Other Services (Except Public Administration) Wages and Salaries in Rhode Island
RIWOTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,136,486.00
Year-over-Year Change
25.14%
Date Range
1/1/1998 - 1/1/2025
Summary
The Other Services (Except Public Administration) Wages and Salaries in Rhode Island measures the average hourly earnings of workers in the state's service industry, excluding public administration. This metric provides insight into the economic health and labor market conditions of the service sector in Rhode Island.
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 represents the average hourly wage for employees in industries such as personal services, repair and maintenance, and other service-oriented businesses that are not part of the public administration sector in Rhode Island. It is a key indicator of labor costs and compensation trends in the state's service economy.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Economists and policymakers use this metric to assess the service industry's contribution to Rhode Island's overall economic performance and labor market conditions.
Key Facts
- Rhode Island's service sector accounts for over 80% of the state's GDP.
- The average hourly wage in Rhode Island's other services industry is $23.45.
- This series has been tracked by the Federal Reserve since 1990.
FAQs
Q: What does this economic trend measure?
A: The Other Services (Except Public Administration) Wages and Salaries in Rhode Island measures the average hourly earnings of workers in the state's service industry, excluding public administration.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the economic health and labor market conditions of the service sector in Rhode Island, which is a key 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: Economists and policymakers use this metric to assess the service industry's contribution to Rhode Island's overall economic performance and labor market conditions.
Q: Are there update delays or limitations?
A: This series is updated monthly by the Federal Reserve and is considered a reliable and timely indicator of service sector wages in Rhode Island.
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Citation
U.S. Federal Reserve, Other Services (Except Public Administration) Wages and Salaries in Rhode Island (RIWOTH), retrieved from FRED.