Average Weekly Earnings of All Employees: Private Service Providing in Colorado
SMU08000000800000011 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,232.50
Year-over-Year Change
1.56%
Date Range
1/1/2007 - 7/1/2025
Summary
This economic trend measures the average weekly earnings of all employees in the private service-providing sector in Colorado. It provides insights into the income and purchasing power of workers in the state's service industry.
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
The Average Weekly Earnings of All Employees: Private Service Providing in Colorado is a key indicator of economic activity and labor market conditions in the state. It represents the average weekly earnings for all employees, including both full-time and part-time workers, in the private service-providing industries.
Methodology
The data is collected through surveys of private businesses and establishments in Colorado by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is used by economists, policymakers, and market analysts to assess the financial well-being of Colorado's service sector workers and its implications for consumer spending and economic growth.
Key Facts
- Colorado's private service sector accounts for over 70% of total employment in the state.
- Average weekly earnings in Colorado's private service sector have risen by 25% over the past decade.
- The service sector is a key driver of economic growth in Colorado, comprising a large portion of the state's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all employees, both full-time and part-time, in the private service-providing industries in the state of Colorado.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the financial well-being and purchasing power of workers in Colorado's service sector, which is a crucial component of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private businesses and establishments in Colorado by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and market analysts use this trend to assess the state of the labor market and consumer spending in Colorado, which can inform economic policies and business strategies.
Q: Are there update delays or limitations?
A: The data is typically published on a monthly basis, with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Private Service Providing in Colorado (SMU08000000800000011), retrieved from FRED.