Total Wages and Salaries in Colorado
COWTOT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
257,322,206.00
Year-over-Year Change
16.70%
Date Range
1/1/1998 - 1/1/2025
Summary
The Total Wages and Salaries in Colorado metric tracks the total compensation paid to employees in the state, providing insight into economic activity and consumer spending potential.
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 measures the total wages, salaries, and other compensation paid to workers in Colorado. It is a key indicator of the overall health of the state's economy, reflecting the level of economic activity and the purchasing power of consumers.
Methodology
The data is collected and reported by the U.S. Bureau of Economic Analysis based on surveys and administrative records.
Historical Context
Policymakers and analysts use this metric to assess the broader economic conditions and trends in Colorado.
Key Facts
- Colorado's total wages and salaries reached a record high of $280 billion in 2021.
- The metric experienced a 5.2% year-over-year increase in 2021 as the state's economy recovered from the COVID-19 pandemic.
- The services sector, including healthcare and professional services, accounts for the largest share of total wages and salaries in Colorado.
FAQs
Q: What does this economic trend measure?
A: The Total Wages and Salaries in Colorado metric measures the total compensation paid to employees in the state, including wages, salaries, and other forms of remuneration.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insight into the overall health and level of economic activity in Colorado, as well as the purchasing power of consumers in the state.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Bureau of Economic Analysis based on surveys and administrative records.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the broader economic conditions and trends in Colorado, which can inform policy decisions and economic strategies.
Q: Are there update delays or limitations?
A: The Total Wages and Salaries in Colorado data is typically released on a quarterly basis with a lag of several months, so there may be a delay in accessing the most recent information.
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Citation
U.S. Federal Reserve, Total Wages and Salaries in Colorado (COWTOT), retrieved from FRED.