Average Weekly Earnings of All Employees: Professional and Business Services in Hawaii
SMU15000006000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,326.39
Year-over-Year Change
48.07%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Earnings of All Employees: Professional and Business Services in Hawaii measures the average weekly earnings for workers in the professional and business services sector in Hawaii. This metric provides insights into the economic health and labor market conditions in Hawaii's service industries.
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 indicator tracks the average weekly earnings of all employees in the professional and business services sector in Hawaii. It is a valuable measure of income and purchasing power for a key component of Hawaii's service-based economy.
Methodology
The data is collected through surveys of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is widely used by economists, policymakers, and businesses to analyze labor market conditions and consumer spending power in Hawaii.
Key Facts
- Hawaii's professional and business services sector accounts for over 17% of total nonfarm employment.
- Weekly earnings in this sector have increased by 12% over the past 5 years.
- The COVID-19 pandemic led to a temporary decline in average weekly earnings in this sector in 2020.
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 Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into income levels and labor market conditions in a key component of Hawaii's service-based 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: Economists, policymakers, and businesses use this trend to analyze labor market conditions and consumer spending power in Hawaii.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical 1-month lag, and may be subject to revisions.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Professional and Business Services in Hawaii (SMU15000006000000011A), retrieved from FRED.