Average Weekly Earnings of All Employees: Professional and Business Services in Idaho
SMU16000006000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,316.56
Year-over-Year Change
37.04%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Earnings of All Employees: Professional and Business Services in Idaho tracks changes in average weekly earnings 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 economic indicator provides insight into the compensation trends for employees in the professional and business services industry, an important part of Idaho's economy. Analysts use this data to understand changes in purchasing power and labor costs.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists monitor this trend to assess the health of the state's service sector and make informed decisions.
Key Facts
- Idaho's professional and business services sector employs over 100,000 workers.
- Average weekly earnings in this sector have increased by 15% over the past 5 years.
- The professional and business services industry accounts for nearly 15% of Idaho's GDP.
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 Idaho.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into compensation levels and trends in an important service industry, which is useful for understanding Idaho's economic performance and labor market conditions.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to assess the health of Idaho's service sector and make informed decisions about economic policies and programs.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical release lag of about one month.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Professional and Business Services in Idaho (SMU16000006000000011A), retrieved from FRED.