Average Weekly Earnings of All Employees: Financial Activities in Connecticut
SMU09000005500000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,174.25
Year-over-Year Change
40.91%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic trend measures the average weekly earnings of all employees in the financial activities sector in Connecticut. It provides insights into the labor market and wages within a key industry in the state.
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: Financial Activities in Connecticut tracks the average weekly earnings, including overtime pay, of all employees in the financial services, insurance, real estate, rental, and leasing industries located in the state. This metric offers valuable data on compensation trends and labor costs in Connecticut's financial sector.
Methodology
The data is collected through surveys of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is useful for analysts and policymakers to monitor the economic health and competitiveness of Connecticut's finance industry.
Key Facts
- Connecticut is a major U.S. financial center.
- The finance sector accounts for over 10% of the state's GDP.
- Weekly earnings in financial activities tend to be higher than the state average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings, including overtime pay, of all employees in the financial services, insurance, real estate, rental, and leasing industries located in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into compensation trends and labor costs within Connecticut's vital finance industry, 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 establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Analysts and policymakers can use this trend to monitor the economic health and competitiveness of Connecticut's finance sector, which has important implications for the state's overall economic performance.
Q: Are there update delays or limitations?
A: This data is published monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Financial Activities in Connecticut (SMU09000005500000011A), retrieved from FRED.