Other Services (Except Public Administration) Wages and Salaries in Minnesota
MNWOTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,026,895.00
Year-over-Year Change
21.31%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Other Services (Except Public Administration) Wages and Salaries in Minnesota' series measures the wages and salaries paid to workers in the other services sector in the state of Minnesota. This metric is important for analyzing labor market trends and economic conditions 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
The other services sector includes industries such as repair and maintenance, personal and laundry services, and religious, civic, and professional organizations. Tracking wages and salaries in this sector provides insight into the overall health and dynamics of Minnesota's service-based economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Labor Statistics through surveys of employers.
Historical Context
This economic trend is useful for policymakers, economists, and businesses to understand the strength and direction of Minnesota's service-based labor market.
Key Facts
- The other services sector accounts for approximately 4% of Minnesota's total employment.
- Wages and salaries in the other services sector in Minnesota have grown by 20% over the past 5 years.
- Minnesota's other services wages are 3% higher than the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the wages and salaries paid to workers in the other services sector in the state of Minnesota, which includes industries like repair, personal services, and professional organizations.
Q: Why is this trend relevant for users or analysts?
A: Tracking wages and salaries in the other services sector provides insight into the overall health and dynamics of Minnesota's service-based economy, which is an important part of the state's labor market and economic activity.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Labor Statistics through surveys of employers.
Q: How is this trend used in economic policy?
A: This economic trend is useful for policymakers, economists, and businesses to understand the strength and direction of Minnesota's service-based labor market, which can inform economic policies and business decisions.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical 1-2 month delay from the reference period.
Related Trends
Real Gross Domestic Product: Farms (111-112) in Minnesota
MNFARMRGSP
All Marginally Attached Workers for Minnesota
ALLMARGATMN
Real Gross Domestic Product: Transportation and Warehousing (48-49) in Minnesota
MNTRANSWARERQGSP
Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in Minnesota
MNAPPLEATHMANNGSP
Total Carbon Dioxide Emissions From All Sectors, Coal for Minnesota
EMISSCO2TOTVTTCOMNA
Total Deposits in Commercial Banks in Minnesota
X08TDCBTMN
Citation
U.S. Federal Reserve, Other Services (Except Public Administration) Wages and Salaries in Minnesota (MNWOTH), retrieved from FRED.