Educational Services Wages and Salaries in Rhode Island
RIWEDU • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,665,696.00
Year-over-Year Change
17.44%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Educational Services Wages and Salaries in Rhode Island' trend measures changes in the average hourly wages and salaries of employees in the educational services industry in Rhode Island. 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 tracks the average hourly compensation, including wages and salaries, for workers employed in educational services in Rhode Island. It is a valuable datapoint for analyzing employment dynamics, cost pressures, and competitiveness in the state's education industry.
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 trend to inform workforce planning, budgeting, and policy decisions.
Key Facts
- Rhode Island educational services wages averaged $29.31 per hour in 2022.
- Wages in this sector have risen 12.5% over the past 5 years.
- Educational services account for over 15% of Rhode Island's total employment.
FAQs
Q: What does this economic trend measure?
A: The 'Educational Services Wages and Salaries in Rhode Island' trend measures the average hourly wages and salaries paid to employees in the educational services industry in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into labor costs and economic conditions in Rhode Island's education sector, which is a major employer and driver of the state's economy.
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 trend to inform workforce planning, budgeting, and policy decisions related to the education industry in Rhode Island.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Educational Services Wages and Salaries in Rhode Island (RIWEDU), retrieved from FRED.