Average Weekly Earnings of All Employees: Private Service Providing in Hawaii
SMU15000000800000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,172.62
Year-over-Year Change
59.50%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Weekly Earnings of All Employees: Private Service Providing in Hawaii' measures the average weekly wages for private sector service workers in Hawaii.
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 provides insight into wage levels and growth for service industry employees in Hawaii, a key component of the state's economy. It is used by economists, policymakers, and businesses to understand labor market dynamics and cost of living trends.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is relevant for assessing the health of Hawaii's private service sector and informing economic and policy decisions.
Key Facts
- Hawaii's service sector accounts for over 80% of the state's GDP.
- Average weekly earnings in Hawaii's private service industry have grown over 30% in the past decade.
- Wage growth in the service sector is a key indicator of Hawaii's economic performance.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings for all employees in the private service-providing industries in Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into wage levels and growth within Hawaii's crucial service sector, informing economic and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to monitor the health of Hawaii's service industry and make informed decisions about economic development and cost-of-living policies.
Q: Are there update delays or limitations?
A: The data is published monthly, but there may be a 1-2 month delay in the latest figures being available.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Private Service Providing in Hawaii (SMU15000000800000011A), retrieved from FRED.