Forestry, Fishing, Related Activities and Other Wages and Salaries in Rhode Island
RIWFOR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31,048.00
Year-over-Year Change
49.50%
Date Range
1/1/1998 - 10/1/2022
Summary
The 'Forestry, Fishing, Related Activities and Other Wages and Salaries in Rhode Island' trend measures total wages and salaries in this industry sector within the state of Rhode Island. It provides insight into economic activity and labor market conditions in a key component 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
This economic indicator tracks the total wages and salaries paid to employees in the forestry, fishing, and related activities industry in Rhode Island. It is an important measure of output and labor market conditions in this natural resource-based sector, which plays a role in the state's economic diversification and resilience.
Methodology
The data is collected and reported by the U.S. Bureau of Economic Analysis as part of their state-level personal income statistics.
Historical Context
Analysts and policymakers monitor this trend to assess the health and trajectory of Rhode Island's natural resource industries.
Key Facts
- Rhode Island is a coastal state with a significant maritime economy.
- Forestry and fishing are important natural resource industries in the state.
- Wages and salaries in this sector provide insight into labor market trends.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total wages and salaries paid to employees in the forestry, fishing, and related activities industry within the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insight into the health and trajectory of Rhode Island's natural resource-based industries, which are a key component of the state's economic diversification and resilience.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Bureau of Economic Analysis as part of their state-level personal income statistics.
Q: How is this trend used in economic policy?
A: Analysts and policymakers monitor this trend to assess the overall performance and labor market conditions in Rhode Island's forestry, fishing, and related activities industry.
Q: Are there update delays or limitations?
A: This data is published on a regular schedule by the U.S. Bureau of Economic Analysis, but may be subject to revisions and updates over time.
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Citation
U.S. Federal Reserve, Forestry, Fishing, Related Activities and Other Wages and Salaries in Rhode Island (RIWFOR), retrieved from FRED.