Average Weekly Earnings of All Employees: Total Private in South Carolina
SMU45000000500000011 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,076.19
Year-over-Year Change
5.25%
Date Range
1/1/2007 - 7/1/2025
Summary
The 'Average Weekly Earnings of All Employees: Total Private in South Carolina' trend measures the average weekly wages for private sector workers in South Carolina. This metric is a key indicator of economic conditions and purchasing power in the state.
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 data series tracks the average weekly earnings for all private sector employees in South Carolina, providing insight into wage growth and labor market dynamics. It is widely used by economists, policymakers, and businesses to assess the economic health and consumer spending potential of the state.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts monitor this trend to understand the economic conditions facing South Carolina residents and businesses.
Key Facts
- South Carolina's average weekly private sector earnings were $936 as of the latest data.
- Wage growth in South Carolina has outpaced the national average in recent years.
- The state's cost of living is below the national average, making these earnings more impactful.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings for all private sector employees in the state of South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the purchasing power and economic well-being of South Carolina residents, which is crucial for businesses, policymakers, and economists analyzing the state's economic conditions.
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 analysts monitor this trend to understand the economic climate facing South Carolina residents and businesses, which can inform decisions on taxation, workforce development, and other economic policies.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical 1-2 month lag between the reference period and the release date.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Total Private in South Carolina (SMU45000000500000011), retrieved from FRED.