Retail Trade Wages and Salaries in Colorado
COWRET • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,253,059.00
Year-over-Year Change
6.02%
Date Range
1/1/1998 - 1/1/2025
Summary
The Retail Trade Wages and Salaries in Colorado trend measures the average hourly and weekly earnings for retail workers in the state. This data provides insight into the economic well-being of a critical sector and can inform policy decisions.
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 series tracks the average hourly and weekly wages paid to employees in the retail trade industry across Colorado. It is a key economic indicator used by policymakers, analysts, and businesses to assess labor market conditions and consumer spending patterns in the state.
Methodology
The data is collected through surveys of private businesses conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Retail trade is a major component of Colorado's economy, so this trend is closely monitored for signs of economic health and consumer confidence.
Key Facts
- Colorado's retail sector employs over 300,000 workers.
- Retail wages in Colorado have risen by 20% in the past decade.
- The retail industry accounts for 11% of Colorado's GDP.
FAQs
Q: What does this economic trend measure?
A: The Retail Trade Wages and Salaries in Colorado trend measures the average hourly and weekly earnings for employees in the retail trade industry across the state.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into labor market conditions and consumer spending patterns in Colorado's retail sector, which is a critical component of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private businesses conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers, analysts, and businesses closely monitor this trend to assess the health of Colorado's economy and make informed decisions about economic policy, investment, and consumer spending.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical release lag of 4-6 weeks. There may be revisions to previous months' data as new information becomes available.
Related Trends
All Employees: Retail Trade in Colorado
SMS08000004200000001
Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Colorado
COFININSREALNGSP
All Employees: Transportation and Utilities: Transportation, Warehousing, and Utilities in Colorado
SMS08000004300000001
Average Weekly Hours of All Employees: Professional and Business Services in Colorado
SMU08000006000000002A
State Unemployment Benefits in Colorado
COOBEN
Gross Domestic Product: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Colorado
COOTRANEQMANNGSP
Citation
U.S. Federal Reserve, Retail Trade Wages and Salaries in Colorado (COWRET), retrieved from FRED.