Professional and Technical Services Wages and Salaries in Missouri
MOWPRO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18,325,810.00
Year-over-Year Change
12.34%
Date Range
1/1/1998 - 1/1/2025
Summary
The Professional and Technical Services Wages and Salaries in Missouri series measures the average hourly earnings of workers in the professional and technical services industry in Missouri. This metric provides insight into labor costs and compensation trends in a key sector of the state's economy.
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 Professional and Technical Services Wages and Salaries in Missouri series tracks the average hourly wage for employees in occupations such as legal services, accounting, architecture, engineering, and computer systems design. This data is used by economists, policymakers, and businesses to evaluate workforce dynamics and competitiveness within the professional services industry in the state.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in professional services wages are monitored by state officials and industry groups to inform economic development strategies and talent attraction initiatives.
Key Facts
- Missouri's professional services sector accounts for over 300,000 jobs.
- Wages in this industry are 45% higher than the statewide average.
- Professional services wages have grown 3.2% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Professional and Technical Services Wages and Salaries in Missouri series tracks the average hourly earnings of workers employed in the professional and technical services industry within the state.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into labor costs and compensation dynamics within a key sector of Missouri's economy, which is useful for evaluating workforce competitiveness and informing economic development strategies.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in professional services wages are monitored by state officials and industry groups to inform economic development strategies and talent attraction initiatives.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical one-month lag.
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Citation
U.S. Federal Reserve, Professional and Technical Services Wages and Salaries in Missouri (MOWPRO), retrieved from FRED.