Retail Trade Wages and Salaries in South Dakota
SDWRET • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,940,288.00
Year-over-Year Change
5.44%
Date Range
1/1/1998 - 1/1/2025
Summary
The Retail Trade Wages and Salaries in South Dakota series measures the total wages and salaries paid to workers in the retail trade industry within the state. This economic indicator provides insights into consumer spending and the health of the local 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 series represents the total compensation, including wages and salaries, paid to employees in the retail trade sector in South Dakota. It is a key metric for understanding consumer demand and labor market conditions in the state's retail industry.
Methodology
The data is collected through surveys of businesses and establishments in the retail trade sector within South Dakota.
Historical Context
Policymakers and analysts use this data to assess the strength of consumer spending and the overall economic performance of the state.
Key Facts
- South Dakota's retail trade wages and salaries totaled $1.2 billion in 2020.
- Retail trade accounts for approximately 10% of total employment in South Dakota.
- Wages in the South Dakota retail sector have grown by 15% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: The Retail Trade Wages and Salaries in South Dakota series measures the total compensation, including wages and salaries, paid to employees in the retail trade sector within the state.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into consumer spending and the overall health of South Dakota's economy, as the retail trade sector is a significant driver of economic activity.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments in the retail trade sector within South Dakota.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to assess the strength of consumer spending and the overall economic performance of the state, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is typically released with a 1-2 month lag, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Retail Trade Wages and Salaries in South Dakota (SDWRET), retrieved from FRED.