Average Hourly Earnings of All Employees: Private Service Providing in North Carolina
SMU37000000800000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
34.02
Year-over-Year Change
5.23%
Date Range
1/1/2007 - 7/1/2025
Summary
The Average Hourly Earnings of All Employees: Private Service Providing in North Carolina measures the average hourly wage for private service-providing workers in the state. This key labor market indicator helps economists and policymakers assess economic 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 data series tracks the average hourly earnings of all employees in the private service-providing sector in North Carolina. It provides insight into compensation trends and the strength of the state's labor market, which is crucial for understanding overall economic performance.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is widely used by economists, analysts, and policymakers to monitor the North Carolina economy and inform decision-making.
Key Facts
- North Carolina's private service-providing sector accounts for over 70% of total employment.
- Hourly earnings in this sector have risen by over 4% annually in recent years.
- Trends in this metric help gauge the strength of consumer demand and the labor market.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the average hourly earnings of all employees in the private service-providing sector in North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into compensation trends and the strength of the state's labor market, which is crucial for understanding overall economic performance.
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 metric is widely used by economists, analysts, and policymakers to monitor the North Carolina economy and inform decision-making.
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 Hourly Earnings of All Employees: Private Service Providing in North Carolina (SMU37000000800000003), retrieved from FRED.