Average Hourly Earnings of All Employees: Professional and Business Services in Idaho
SMU16000006000000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40.54
Year-over-Year Change
13.75%
Date Range
1/1/2007 - 7/1/2025
Summary
The 'Average Hourly Earnings of All Employees: Professional and Business Services in Idaho' is a key economic indicator that measures the average hourly wage for workers in the professional and business services sector in Idaho.
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 metric provides insight into compensation trends and the overall strength of the labor market in Idaho's professional and business services industry. It is closely watched by economists, policymakers, and businesses to understand regional wage dynamics and inform economic decisions.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' monthly Current Employment Statistics survey.
Historical Context
This trend is used to assess the health of Idaho's professional services economy and can inform policy decisions related to employment, wages, and business investment.
Key Facts
- Idaho's professional and business services sector employs over 100,000 workers.
- Wages in this sector have increased by 15% over the past 5 years.
- The average hourly wage is 25% higher than the overall state average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of all employees in the professional and business services sector in the state of Idaho.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into compensation trends and the overall strength of the labor market in Idaho's professional and business services industry, which is an important driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' monthly Current Employment Statistics survey.
Q: How is this trend used in economic policy?
A: This trend is used to assess the health of Idaho's professional services economy and can inform policy decisions related to employment, wages, and business investment.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Professional and Business Services in Idaho (SMU16000006000000003), retrieved from FRED.