Average Weekly Earnings of Production Employees: Financial Activities in West Virginia
SMU54000005500000030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
775.46
Year-over-Year Change
43.45%
Date Range
1/1/2003 - 1/1/2024
Summary
The 'Average Weekly Earnings of Production Employees: Financial Activities in West Virginia' measures the average weekly earnings of production workers in the financial industry in West Virginia. This metric provides insight into compensation trends and labor costs within a key economic sector.
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
This economic series tracks the average weekly earnings for production employees in the financial activities industry in West Virginia. It serves as an indicator of compensation levels and trends, which are important factors in assessing labor market conditions and business costs.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to monitor economic performance and employment dynamics in the financial sector.
Key Facts
- West Virginia's financial activities industry employs over 30,000 workers.
- Average weekly earnings in this sector have risen by 12% over the past 5 years.
- The financial activities industry accounts for approximately 5% of West Virginia's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of production employees in the financial activities industry in West Virginia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into compensation levels and trends within a key economic sector, which is important for assessing labor market conditions and business costs.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to monitor economic performance and employment dynamics in the financial sector.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of Production Employees: Financial Activities in West Virginia (SMU54000005500000030A), retrieved from FRED.