Average Hourly Earnings of All Employees: Professional and Business Services in Nebraska
SMU31000006000000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36.67
Year-over-Year Change
5.95%
Date Range
1/1/2007 - 7/1/2025
Summary
This economic trend measures the average hourly earnings of all employees in the professional and business services sector in Nebraska. It provides insight into wage levels and trends in this important industry.
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: Professional and Business Services in Nebraska tracks the average hourly wage paid to workers in the professional and business services sector, which includes industries like accounting, legal services, and management consulting. This metric is a key indicator of labor costs and competitiveness in the state's services economy.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by policymakers, businesses, and economists to understand the state of Nebraska's services labor market.
Key Facts
- Nebraska's professional and business services sector employs over 130,000 workers.
- Average hourly earnings in this sector are 25% higher than the statewide average.
- Earnings have risen by 3.2% annually over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of all employees in the professional and business services sector in Nebraska. It provides insight into wage levels and trends in this key industry.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding labor costs and competitiveness in Nebraska's services economy, which is closely watched by policymakers, businesses, and economists.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, businesses, and economists to monitor the state of Nebraska's services labor market and inform decisions around economic development, workforce, and competitiveness.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay. There may be sampling and survey limitations inherent in employer-reported wage data.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Professional and Business Services in Nebraska (SMU31000006000000003), retrieved from FRED.