Average Hourly Earnings of All Employees: Trade, Transportation, and Utilities in Virginia
SMU51000004000000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29.21
Year-over-Year Change
4.43%
Date Range
1/1/2007 - 6/1/2025
Summary
This economic trend measures the average hourly wages of all employees in the trade, transportation, and utilities sector in Virginia. It provides insights into labor market conditions and cost pressures for a key industry cluster.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Average Hourly Earnings of All Employees: Trade, Transportation, and Utilities in Virginia tracks the average hourly wage paid to workers in this broad industry group, which includes retail, wholesale, transportation, warehousing, and utility companies. This data point is closely watched by economists and policymakers as an indicator of labor market tightness and inflationary pressures.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in this metric can inform monetary and fiscal policy decisions, as well as investment strategies in related sectors.
Key Facts
- Virginia's trade, transportation, and utilities sector employs over 800,000 workers.
- Average hourly earnings in this sector have risen by 25% over the past decade.
- Wages in this industry group are closely tied to consumer spending and supply chain dynamics.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wages paid to employees in Virginia's trade, transportation, and utilities sector, which includes retail, wholesale, logistics, and utility companies.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor market conditions and cost pressures in a key industry cluster, which is valuable for economic analysis, investment decisions, and policy formulation.
Q: How is this data collected or calculated?
A: The data is collected through monthly employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in this wage metric can inform monetary policy decisions by the Federal Reserve, as well as fiscal and regulatory policies aimed at supporting employment and economic growth in the trade, transportation, and utilities sectors.
Q: Are there update delays or limitations?
A: The data is released with a one-month lag and may be subject to revisions as additional information becomes available.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Trade, Transportation, and Utilities in Virginia (SMU51000004000000003), retrieved from FRED.