Average Weekly Earnings of All Employees: Education and Health Services in Rhode Island
SMU44000006500000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,132.95
Year-over-Year Change
60.66%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic trend tracks the average weekly earnings of all employees in the education and health services sector in Rhode Island. It provides important insights into the labor market and income levels within 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
The Average Weekly Earnings of All Employees: Education and Health Services in Rhode Island measures the mean compensation paid to workers in the education and healthcare industries across the state. This metric is used by economists and policymakers to analyze employment trends, wage growth, and the overall health of the local economy.
Methodology
The data is collected through surveys of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by state and local officials to inform policy decisions around workforce development, industry support, and economic planning.
Key Facts
- Education and health services account for over 20% of Rhode Island's workforce.
- Average weekly earnings in this sector have risen by 25% over the past decade.
- Rhode Island's education and health services wages are 8% above the national average.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the average weekly earnings of all employees working in the education and health services industry across Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into wage levels and labor market conditions within a critical sector of Rhode Island's economy.
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: State and local officials closely monitor this trend to inform policy decisions around workforce development, industry support, and economic planning.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Education and Health Services in Rhode Island (SMU44000006500000011A), retrieved from FRED.