Average Weekly Earnings of All Employees: Professional and Business Services in Missouri
SMU29000006000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,314.96
Year-over-Year Change
38.69%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Weekly Earnings of All Employees: Professional and Business Services in Missouri' metric measures the average weekly earnings for workers in the professional and business services industry in the state of Missouri. This data point is important for economists and policymakers to understand trends in wages and labor costs.
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 weekly earnings for all employees in the professional and business services sector in Missouri. It provides insight into compensation levels and trends for this crucial part of the state's economy, which includes a range of knowledge-based industries such as legal services, accounting, management consulting, and computer systems design.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' monthly Current Employment Statistics survey of establishments.
Historical Context
This metric is used by economists, businesses, and policymakers to assess the state of the labor market and overall economic conditions in Missouri.
Key Facts
- The latest average weekly earnings figure for professional and business services in Missouri is $1,021.
- Earnings in this sector have increased by 3.2% over the past year.
- Professional and business services account for over 14% of total employment in Missouri.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average weekly earnings for all employees in the professional and business services sector in the state of Missouri.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into compensation levels and trends for a crucial part of Missouri's economy, which can inform economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' monthly Current Employment Statistics survey of establishments.
Q: How is this trend used in economic policy?
A: This metric is used by economists, businesses, and policymakers to assess the state of the labor market and overall economic conditions in Missouri.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Professional and Business Services in Missouri (SMU29000006000000011A), retrieved from FRED.