Other Services (Except Public Administration) Wages and Salaries in North Carolina
NCWOTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11,468,227.00
Year-over-Year Change
23.08%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Other Services (Except Public Administration) Wages and Salaries in North Carolina' series measures the total wages and salaries paid to workers in the 'Other Services' sector within North Carolina. This data provides insight into the economic health and labor market conditions of this important industry 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 a diverse range of establishments that provide services not classified elsewhere, such as personal services, automotive repair, and religious organizations. This metric gives economists and policymakers a gauge of compensation trends in this broad, service-oriented segment of North Carolina's economy.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys of businesses.
Historical Context
This economic indicator is used to monitor labor market conditions and assess the broader service sector performance within North Carolina.
Key Facts
- North Carolina is the 9th largest state economy in the U.S.
- The 'Other Services' sector accounts for over 4% of North Carolina's GDP.
- Wages in this sector have grown by 15% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This series measures the total wages and salaries paid to workers in the 'Other Services' sector within the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the economic health and labor market conditions of an important service-oriented industry in North Carolina.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys of businesses.
Q: How is this trend used in economic policy?
A: This economic indicator is used to monitor labor market conditions and assess the broader service sector performance within North Carolina.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical 2-month lag.
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Citation
U.S. Federal Reserve, Other Services (Except Public Administration) Wages and Salaries in North Carolina (NCWOTH), retrieved from FRED.