Educational Services Wages and Salaries in Minnesota
MNWEDU • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,063,725.00
Year-over-Year Change
13.90%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Educational Services Wages and Salaries in Minnesota' series tracks the wages and salaries paid to workers in the education industry within the state of Minnesota. This metric is a key indicator of labor costs and economic conditions in the state's education sector.
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 average hourly or weekly wages and salaries for employees in educational services occupations in Minnesota. It provides insight into compensation levels and trends for teachers, administrators, and other staff within the state's education system.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and education stakeholders use this metric to understand workforce and compensation dynamics in Minnesota's education industry.
Key Facts
- Minnesota's educational services wages have risen by over 20% in the past decade.
- Wages in the education sector are typically lower than the state average across all industries.
- Teachers make up the largest occupation within Minnesota's educational services industry.
FAQs
Q: What does this economic trend measure?
A: This series tracks the average hourly or weekly wages and salaries paid to workers in the educational services industry within the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into compensation levels and trends for teachers, administrators, and other staff in Minnesota's education system, which is crucial for understanding workforce dynamics and labor costs in the sector.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and education stakeholders use this metric to understand workforce and compensation dynamics in Minnesota's education industry, which can inform decisions around funding, staffing, and education policy.
Q: Are there update delays or limitations?
A: The data is subject to the typical release schedule and potential revisions of the U.S. Bureau of Labor Statistics surveys.
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Citation
U.S. Federal Reserve, Educational Services Wages and Salaries in Minnesota (MNWEDU), retrieved from FRED.