Average Weekly Earnings of All Employees: Financial Activities in North Dakota
SMU38000005500000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,373.95
Year-over-Year Change
79.70%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Earnings of All Employees: Financial Activities in North Dakota series measures the average weekly earnings of workers in the financial activities sector in North Dakota. This metric provides insight into the economic health and labor market conditions of this key 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
This economic indicator tracks the average weekly earnings of all employees in the financial activities sector, which encompasses industries like banking, insurance, and real estate. It is a valuable data point for analyzing the financial services industry's performance and compensation trends in North Dakota.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Current Employment Statistics (CES) program.
Historical Context
Policymakers and economists use this metric to assess the financial sector's contribution to the broader North Dakota economy.
Key Facts
- North Dakota's financial activities sector employs over 20,000 workers.
- The average weekly earnings in this sector are higher than the overall state average.
- Financial activities account for approximately 5% of North Dakota's total employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all employees in the financial activities sector in North Dakota, including industries like banking, insurance, and real estate.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the economic health and labor market conditions of North Dakota's financial services industry, which is an important component of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Current Employment Statistics (CES) program.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the financial sector's contribution to the broader North Dakota economy and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is typically released on a monthly basis with a short delay, and may be subject to revisions.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Financial Activities in North Dakota (SMU38000005500000011A), retrieved from FRED.