Average Hourly Earnings of All Employees: Private Service Providing in Missouri
SMU29000000800000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31.47
Year-over-Year Change
4.87%
Date Range
1/1/2007 - 6/1/2025
Summary
This trend measures the average hourly earnings of all private service-providing employees in Missouri. It serves as an important economic indicator for wages and consumer spending in the state.
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 Hourly Earnings of All Employees: Private Service Providing in Missouri reflects the average hourly wage rate for workers in the private service sector, which encompasses industries like healthcare, retail, and professional services. This metric helps economists and policymakers understand labor market conditions and consumer purchasing power in Missouri.
Methodology
The data is collected through surveys of private-sector employers and calculated by the U.S. Bureau of Labor Statistics.
Historical Context
Tracking changes in this earnings trend can inform decisions around monetary and fiscal policies aimed at supporting economic growth and stability in Missouri.
Key Facts
- The average hourly earnings in Missouri's private service sector was $24.96 as of the latest data.
- This trend has increased by 4.2% over the past year, indicating rising wages in the state.
- Private service-providing industries account for over 70% of total employment in Missouri.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of all private service-providing employees in the state of Missouri.
Q: Why is this trend relevant for users or analysts?
A: This metric helps economists and policymakers understand labor market conditions and consumer purchasing power in Missouri.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private-sector employers and calculated by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Tracking changes in this earnings trend can inform decisions around monetary and fiscal policies aimed at supporting economic growth and stability in Missouri.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a short time lag, providing timely insights into Missouri's labor market conditions.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Private Service Providing in Missouri (SMU29000000800000003), retrieved from FRED.