Average Weekly Earnings of All Employees: Private Service Providing in Montana
SMU30000000800000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,008.90
Year-over-Year Change
56.35%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Weekly Earnings of All Employees: Private Service Providing in Montana' trend measures the average weekly earnings of private sector service workers in Montana. This data provides insights into the state's labor market and cost of living.
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 trend represents the average weekly nominal earnings of all employees in the private service-providing industries in Montana. It is an important economic indicator for understanding consumer purchasing power, labor costs, and overall economic conditions in the state.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to assess the state's economic performance and cost of living dynamics.
Key Facts
- Montana's average weekly earnings in private service industries are below the national average.
- The trend has shown steady growth over the past decade.
- Service-providing industries account for the majority of private sector employment in Montana.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all employees in the private service-providing industries in the state of Montana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the labor market, cost of living, and overall economic conditions in Montana, which is valuable for policymakers, businesses, and individuals.
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: Policymakers and analysts use this metric to assess the state's economic performance and cost of living dynamics, which can inform decisions related to taxation, spending, and economic development.
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: Private Service Providing in Montana (SMU30000000800000011A), retrieved from FRED.