Average Weekly Earnings of All Employees: Professional and Business Services in Pennsylvania
SMU42000006000000011 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,564.53
Year-over-Year Change
3.87%
Date Range
1/1/2007 - 7/1/2025
Summary
The Average Weekly Earnings of All Employees: Professional and Business Services in Pennsylvania measures the average weekly earnings for workers in the professional and business services sector in the state of Pennsylvania. This metric provides insights into wage trends and economic conditions in a 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 series tracks the average weekly earnings for all employees in the professional and business services sector in Pennsylvania. It is a valuable indicator of economic performance and labor market trends in the state's service-producing industries.
Methodology
The data is collected through surveys of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is used by economists, policymakers, and businesses to analyze Pennsylvania's economic conditions and labor market dynamics.
Key Facts
- Pennsylvania's professional and business services sector employs over 1 million workers.
- Average weekly earnings in this sector have increased by 15% over the past decade.
- The professional and business services industry accounts for over 20% of Pennsylvania's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings for all employees in the professional and business services sector in the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into wage trends and economic conditions in a key service-producing industry in Pennsylvania, which is useful for analysts and policymakers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and businesses to analyze Pennsylvania's economic conditions and labor market dynamics.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical release lag of 1-2 months.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Professional and Business Services in Pennsylvania (SMU42000006000000011), retrieved from FRED.