Average Hourly Earnings of All Employees: Financial Activities in Colorado
SMU08000005500000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
46.92
Year-over-Year Change
78.67%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Hourly Earnings of All Employees: Financial Activities in Colorado measures the typical hourly wage for workers in the financial sector within the state. This metric is valuable for economists and policymakers to assess the labor market conditions in Colorado's financial 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
This economic trend represents the average hourly pay received by all employees working in financial activities, such as banking, insurance, and securities, across the state of Colorado. It is a key indicator of compensation levels and workforce dynamics within the local financial sector.
Methodology
The data is collected through surveys of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to monitor the relative competitiveness and health of Colorado's financial industry.
Key Facts
- Colorado's financial sector employs over 160,000 workers.
- The average hourly wage in this industry is about $40.
- Hourly earnings have increased by 3.2% over the past year.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of all employees working in financial activities, such as banking, insurance, and securities, across the state of Colorado.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for assessing the labor market conditions and compensation levels within Colorado's financial industry, which is a key sector of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to monitor the relative competitiveness and health of Colorado's financial industry, which can inform economic development strategies and workforce policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Financial Activities in Colorado (SMU08000005500000003A), retrieved from FRED.