Average Weekly Earnings of All Employees: Professional and Business Services in North Dakota
SMU38000006000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,533.55
Year-over-Year Change
48.47%
Date Range
1/1/2007 - 1/1/2024
Summary
This trend measures the average weekly earnings of all employees in the professional and business services sector in North Dakota. It provides insights into compensation trends and labor market dynamics in this key economic sector.
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 weekly earnings series tracks the typical weekly pay for workers in the professional and business services industry in North Dakota. This metric is useful for economists and policymakers to assess compensation levels, wage growth, and labor market conditions in this important service-oriented industry.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Current Employment Statistics survey.
Historical Context
The average weekly earnings trend helps inform economic and workforce policies at the state level.
Key Facts
- North Dakota's professional and business services sector is a key driver of the state's economy.
- Weekly earnings in this sector have steadily increased over the past decade.
- Tracking compensation trends helps policymakers understand labor market dynamics.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all employees in the professional and business services sector in North Dakota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into compensation levels and wage growth in a crucial service-oriented industry, which is valuable for economists and policymakers.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Current Employment Statistics survey.
Q: How is this trend used in economic policy?
A: The average weekly earnings trend helps inform economic and workforce policies at the state level in North Dakota.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical lag of several weeks.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Professional and Business Services in North Dakota (SMU38000006000000011A), retrieved from FRED.