Retail Trade Wages and Salaries in Connecticut
CTWRET • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,534,805.00
Year-over-Year Change
7.95%
Date Range
1/1/1998 - 1/1/2025
Summary
The Retail Trade Wages and Salaries in Connecticut measures the total compensation paid to employees in the retail trade industry within the state. This trend provides insight into labor costs and consumer spending patterns.
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 Retail Trade Wages and Salaries in Connecticut reflects the aggregate wages and salaries earned by workers in the retail sector of the state's economy. It is a key economic indicator used to analyze consumer demand, labor market conditions, and the overall health of the local retail industry.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through employer surveys.
Historical Context
Policymakers and economists monitor this trend to assess the strength of consumer spending and the broader economic outlook for Connecticut.
Key Facts
- Connecticut's retail trade industry employs over 350,000 workers.
- Retail wages account for nearly 10% of total personal income in the state.
- Retail wages in Connecticut have grown by 25% over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Retail Trade Wages and Salaries in Connecticut measures the total compensation paid to employees in the retail trade industry within the state.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insight into consumer spending patterns, labor market conditions, and the overall health of Connecticut's retail industry, making it a key indicator for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through employer surveys.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to assess the strength of consumer spending and the broader economic outlook for Connecticut.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical lag of 1-2 months.
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Citation
U.S. Federal Reserve, Retail Trade Wages and Salaries in Connecticut (CTWRET), retrieved from FRED.