Average Weekly Earnings of All Employees: Trade, Transportation, and Utilities in Minnesota
SMU27000004000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
901.82
Year-over-Year Change
28.17%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic trend measures the average weekly earnings of all employees in the trade, transportation, and utilities sector in Minnesota. It provides insight into labor market conditions and trends in a key part of the state's economy.
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
The Average Weekly Earnings of All Employees: Trade, Transportation, and Utilities in Minnesota is a series that tracks the mean weekly pay for workers in this sector across the state. It is a key indicator of economic activity and consumer demand in the region.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is used by economists, policymakers, and businesses to understand labor market dynamics and make informed decisions.
Key Facts
- Minnesota's trade, transportation, and utilities sector employs over 1 million workers.
- Earnings in this sector have increased by 15% over the past 5 years.
- Wages tend to be higher in urban areas compared to rural parts of the state.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average weekly earnings of all employees in the trade, transportation, and utilities sector across Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into labor market conditions and consumer demand in a critical part of Minnesota's economy.
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: Economists and policymakers analyze this metric to understand regional employment and wage trends, informing decisions on economic and workforce development.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag, and may be subject to revision as more information becomes available.
Related Trends
Real Estate, Rental and Leasing Wages and Salaries in Minnesota
MNWREA
Estimate of People Under Age 5 in Poverty for Minnesota
PE0T4MN27000A647NCEN
Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in Minnesota
MNMOTPICSNDNGSP
Estimated Percent of Related Children Age 5-17 in Families in Poverty for Minnesota
PP5T17MN27000A156NCEN
Average Hourly Earnings of Production Employees: Construction: Specialty Trade Contractors in Minnesota
SMU27000002023800008
Average Hourly Earnings of All Employees: Education and Health Services: Private Education and Health Services in Minnesota
SMU27000006500000003
Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Trade, Transportation, and Utilities in Minnesota (SMU27000004000000011A), retrieved from FRED.