Average Hourly Earnings of Production Employees: Financial Activities in Hawaii
SMU15000005500000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
28.94
Year-over-Year Change
41.38%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic trend measures the average hourly earnings of production employees in the financial activities sector in Hawaii. It provides valuable insights into labor costs and compensation levels in a key 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 Hourly Earnings of Production Employees: Financial Activities in Hawaii tracks the average hourly pay for workers in the financial services, insurance, and real estate industries across the state. This indicator helps economists and policymakers understand wage dynamics and inflationary pressures in a critical economic sector.
Methodology
The data is collected through surveys of private businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by economists, investors, and policymakers to gauge the overall health and competitiveness of Hawaii's financial industry.
Key Facts
- Hawaii's financial sector accounts for over 5% of the state's GDP.
- Wage growth in the financial industry has outpaced the overall state average in recent years.
- Hourly earnings in this sector are approximately 20% higher than the statewide private industry average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wages paid to production employees in the financial activities sector across the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides important insights into labor costs and compensation levels in Hawaii's financial 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 private businesses and establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and investors closely monitor this trend to gauge the overall health and competitiveness of Hawaii's financial sector.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical delay of 1-2 months from the end of the reference period.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Financial Activities in Hawaii (SMU15000005500000008A), retrieved from FRED.