Average Hourly Earnings of All Employees: Financial Activities in Pennsylvania
SMU42000005500000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
46.32
Year-over-Year Change
1.47%
Date Range
1/1/2007 - 7/1/2025
Summary
This economic trend measures the average hourly earnings of all employees in the financial activities sector in Pennsylvania. It provides insight into wage growth and labor market conditions in 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
The Average Hourly Earnings of All Employees: Financial Activities in Pennsylvania series tracks the mean hourly pay for workers in the financial services, insurance, and real estate industries across the state. It is a key indicator of compensation trends and can inform policy decisions and business strategy.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is used by economists, policymakers, and financial analysts to assess the health of Pennsylvania's economy and labor market.
Key Facts
- Pennsylvania's financial activities sector employs over 400,000 workers.
- Average hourly wages in this industry are over 50% higher than the state average.
- Wage growth in financial activities has outpaced overall state earnings in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of all employees in the financial activities sector across Pennsylvania. It provides insight into compensation levels and wage growth in this key industry.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of labor market conditions and economic performance in Pennsylvania's finance, insurance, and real estate industries. It informs business decisions, policy, and broader economic analysis.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the strength of Pennsylvania's financial sector and make informed decisions about economic and workforce development initiatives.
Q: Are there update delays or limitations?
A: This data is published monthly with a typical 1-2 month delay. It may not capture rapid short-term changes and does not break down earnings by specific financial industry.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Financial Activities in Pennsylvania (SMU42000005500000003), retrieved from FRED.