Average Hourly Earnings of All Employees: Professional and Business Services in Louisiana
SMU22000006000000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.32
Year-over-Year Change
9.25%
Date Range
1/1/2007 - 6/1/2025
Summary
The Average Hourly Earnings of All Employees in the Professional and Business Services sector in Louisiana measures changes in hourly compensation for workers in this 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
This data series tracks the average hourly wage for all employees in the professional and business services sector in Louisiana, providing insight into labor costs and compensation trends in this important economic segment.
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 the economic health and competitiveness of Louisiana's professional services industry.
Key Facts
- Louisiana's professional services sector accounts for over 12% of the state's GDP.
- Hourly wages in this industry have risen by 3.2% on average over the past 5 years.
- The professional services industry employs over 250,000 workers in Louisiana.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average hourly wage for all employees working in the professional and business services sector in Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into labor costs and compensation trends within a key industry in Louisiana, which is useful for policymakers, businesses, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted 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 the economic health and competitiveness of Louisiana's professional services industry, which is an important driver of the state's economy.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical lag of 1-2 months from the reference period.
Similar SMU Trends
Industrial Carbon Dioxide Emissions, Industrial Other for Louisiana
EMISSCO2VCLICBLAA
Transportation Carbon Dioxide Emissions, Lubricants for Louisiana
EMISSCO2VLUACBLAA
All Employees: Health Care: Hospitals in Louisiana
SMU22000006562200001A
Per Capita Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households: Gross Output of Nonprofit Institutions for Louisiana
LAPCEPCGONPI
Monthly State Retail Sales: Food and Beverage Stores in Louisiana
MSRSLA445
Civilian Labor Force for Louisiana
CIVLFLA
Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Professional and Business Services in Louisiana (SMU22000006000000003), retrieved from FRED.