Real Estate, Rental and Leasing Earnings in Rhode Island
RIEREA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,859,718.00
Year-over-Year Change
2.21%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Real Estate, Rental and Leasing Earnings in Rhode Island' trend tracks employee earnings in the real estate, rental, and leasing sector in the state of Rhode Island. This metric is a key indicator of economic activity and investment in the local property market.
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 total compensation, including wages and salaries, earned by employees in Rhode Island's real estate, rental, and leasing industry. It provides insights into the overall health and growth of this important sector, which includes activities such as property management, real estate brokerage, and equipment rental.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through surveys of businesses and establishments.
Historical Context
Economists and policymakers monitor this trend to assess the strength of the local real estate market and broader economic conditions in Rhode Island.
Key Facts
- Real estate, rental, and leasing is a major industry in Rhode Island, accounting for over 5% of the state's GDP.
- Employee earnings in this sector have grown by an average of 3% annually over the past decade.
- The real estate industry is a significant employer in Rhode Island, accounting for over 20,000 jobs statewide.
FAQs
Q: What does this economic trend measure?
A: The 'Real Estate, Rental and Leasing Earnings in Rhode Island' trend tracks the total compensation, including wages and salaries, earned by employees in this key industry sector within the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the strength and growth of Rhode Island's real estate market, which is a significant driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through surveys of businesses and establishments in the real estate, rental, and leasing industry.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this trend to assess the overall health of Rhode Island's real estate market and make informed decisions about economic development, taxation, and other policies.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Real Estate, Rental and Leasing Earnings in Rhode Island (RIEREA), retrieved from FRED.