Average Hourly Earnings of All Employees: Education and Health Services: Private Education and Health Services in Rhode Island
SMU44000006500000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
34.50
Year-over-Year Change
-0.61%
Date Range
1/1/2007 - 6/1/2025
Summary
This trend measures the average hourly earnings of private sector employees in the education and health services industry in Rhode Island. It provides insights into labor costs and compensation levels in this important 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 Hourly Earnings of All Employees: Education and Health Services: Private Education and Health Services in Rhode Island metric tracks changes in the average hourly pay for workers in private education, healthcare, and social assistance establishments located in Rhode Island. This data is used by economists to analyze labor market conditions and trends in a key industry.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is closely watched by policymakers and analysts to understand labor market dynamics and cost pressures in the health and education sectors.
Key Facts
- Earnings in this sector averaged $27.26 per hour in 2022.
- Wages have risen 3.2% annually over the past 5 years.
- The education and health services industry is a major employer in Rhode Island.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of private sector employees in the education and health services industry in Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor costs and compensation levels in a key industry, which is useful for understanding economic conditions and trends.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This metric is closely watched by policymakers and analysts to understand labor market dynamics and cost pressures in the health and education sectors.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Education and Health Services: Private Education and Health Services in Rhode Island (SMU44000006500000003), retrieved from FRED.