Professional and Technical Services Earnings in Idaho
IDEPRO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,194,942.00
Year-over-Year Change
29.43%
Date Range
1/1/1998 - 1/1/2025
Summary
The Professional and Technical Services Earnings in Idaho trend measures average weekly earnings in this key industry sector for the state. It provides insights into the economic health and labor market conditions in Idaho's professional services industry.
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 indicator tracks the average weekly earnings of workers in professional, scientific, and technical service industries in Idaho, such as legal, accounting, architectural, and computer systems design services. It is used by economists and policymakers to monitor the compensation levels and economic performance of this high-skilled service sector.
Methodology
The data is collected through the Quarterly Census of Employment and Wages (QCEW) program by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in professional services earnings are closely watched as an indicator of broader economic conditions and the strength of high-skill labor markets.
Key Facts
- Idaho's professional services earnings averaged $1,390 per week in 2022.
- This sector accounts for over 7% of total employment in the state.
- Earnings in Idaho's professional services have grown 12% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: The Professional and Technical Services Earnings in Idaho trend measures the average weekly earnings of workers in professional, scientific, and technical service industries in the state.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the compensation levels and economic performance of Idaho's high-skilled service sector, which is closely watched as a barometer of broader economic conditions.
Q: How is this data collected or calculated?
A: The data is collected through the Quarterly Census of Employment and Wages (QCEW) program by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in professional services earnings are used by economists and policymakers to monitor the strength of high-skill labor markets and the overall health of the state's economy.
Q: Are there update delays or limitations?
A: The QCEW data used to calculate this trend has a lag of several months, so the most recent figures may not fully reflect current economic conditions.
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Citation
U.S. Federal Reserve, Professional and Technical Services Earnings in Idaho (IDEPRO), retrieved from FRED.