Average Hourly Earnings of All Employees: Total Private in Mississippi
SMU28000000500000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
27.95
Year-over-Year Change
5.47%
Date Range
1/1/2007 - 6/1/2025
Summary
The Average Hourly Earnings of All Employees: Total Private in Mississippi measures the average hourly wage paid to private sector workers in the state. This key economic indicator provides insight into labor market conditions and wage growth.
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 series tracks the average hourly earnings for all private industry employees in Mississippi. It is used by economists and policymakers to monitor trends in worker compensation and evaluate the state's economic performance.
Methodology
The data is collected through surveys of employers conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Wage growth is a crucial component of the Federal Reserve's policy decisions and assessments of the overall health of the U.S. economy.
Key Facts
- Mississippi's average private sector wage was $23.78 in 2022.
- Wage growth in Mississippi has outpaced the national average in recent years.
- The series dates back to 2007 and is released monthly by the BLS.
FAQs
Q: What does this economic trend measure?
A: This series measures the average hourly wage paid to private sector employees in the state of Mississippi.
Q: Why is this trend relevant for users or analysts?
A: Wage growth is a key indicator of labor market conditions and an important factor in assessing a state's economic performance.
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: Wage growth data, including this Mississippi series, is closely monitored by the Federal Reserve and other policymakers to inform monetary policy decisions.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical lag of around one month.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Total Private in Mississippi (SMU28000000500000003), retrieved from FRED.