Average Weekly Earnings of All Employees: Professional and Business Services in Florida
SMU12000006000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,310.40
Year-over-Year Change
42.35%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Earnings of All Employees: Professional and Business Services in Florida measures the average weekly earnings of workers in the professional and business services sector in Florida. This metric provides insight into economic conditions and trends in the state's labor market.
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 tracks the average weekly earnings for all employees in the professional and business services industry in Florida. It is a key indicator of economic activity and labor market health, providing valuable data for economists, policymakers, and businesses monitoring trends in the state's economy.
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 assess the overall strength of Florida's professional services sector and its contribution to the state's economic performance.
Key Facts
- Florida's professional and business services sector employs over 1.4 million workers.
- Average weekly earnings in this sector have grown by 4.2% over the past year.
- The professional services industry accounts for nearly 20% of Florida's total GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all employees in the professional and business services sector in the state of Florida.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insight into the economic conditions and labor market trends within Florida's professional services 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: Policymakers and analysts use this metric to assess the overall strength of Florida's professional services sector and its contribution to the state's economic performance.
Q: Are there update delays or limitations?
A: The data is typically released on a monthly basis, with a short lag time. There may be occasional revisions to previously reported figures.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Professional and Business Services in Florida (SMU12000006000000011A), retrieved from FRED.