Average Hourly Earnings of All Employees: Total Private in Idaho
SMU16000000500000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
34.07
Year-over-Year Change
6.64%
Date Range
1/1/2007 - 6/1/2025
Summary
The 'Average Hourly Earnings of All Employees: Total Private in Idaho' measures the average hourly wage for private sector workers in the state of Idaho. This metric provides insight into labor market conditions and worker purchasing power 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
This economic indicator tracks the average hourly wage earned by all private sector employees in Idaho, including both full-time and part-time workers. It is a key measure of labor market trends and can inform discussions around cost of living, wage growth, and the overall health of the state's economy.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to assess labor market dynamics and make informed decisions regarding economic policy in Idaho.
Key Facts
- Idaho's average private sector hourly wage was $24.10 as of the latest data.
- Wages have risen by 3.2% in Idaho over the past year.
- The state's average hourly wage is lower than the national private sector average.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the average hourly wage earned by private sector employees in the state of Idaho, providing insight into labor market conditions and worker purchasing power.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key measure of labor market dynamics in Idaho and can inform discussions around cost of living, wage growth, and the overall health of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys 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 labor market conditions and make informed decisions regarding economic policy in Idaho.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical delay of one to two months.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Total Private in Idaho (SMU16000000500000003), retrieved from FRED.