Finance and Insurance Earnings in Minnesota
MNEFIN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
24,943,531.00
Year-over-Year Change
6.34%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Finance and Insurance Earnings in Minnesota' series measures the total wages and salaries paid to employees in the finance and insurance sector within the state of Minnesota. This metric is a key indicator of economic activity and financial industry performance in the state.
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 data series tracks earnings in Minnesota's finance and insurance industry, which includes banking, insurance, securities, and other financial services. It provides insights into the health and growth of a crucial sector for the state's economy.
Methodology
The data is collected through surveys of employers and compiled by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to assess the financial industry's contribution to Minnesota's overall economic output and employment.
Key Facts
- Minnesota's finance and insurance sector employs over 200,000 people.
- Earnings in this industry have grown by 30% over the past decade.
- The finance and insurance sector accounts for 7% of Minnesota's total GDP.
FAQs
Q: What does this economic trend measure?
A: This series measures the total wages and salaries paid to employees in Minnesota's finance and insurance sector, including banking, insurance, securities, and other financial services.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the health and growth of a crucial industry for Minnesota's economy, helping policymakers and analysts assess the financial sector's contribution to overall economic output and employment.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers and compiled 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 the finance and insurance industry's performance and its impact on Minnesota's overall economic activity.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, with a typical release lag of 2-3 months.
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Citation
U.S. Federal Reserve, Finance and Insurance Earnings in Minnesota (MNEFIN), retrieved from FRED.