Average Weekly Earnings of All Employees: Private Service Providing in South Carolina
SMU45000000800000011 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
995.30
Year-over-Year Change
5.64%
Date Range
1/1/2007 - 7/1/2025
Summary
The 'Average Weekly Earnings of All Employees: Private Service Providing in South Carolina' measures the average weekly earnings of private service sector workers in South Carolina. It is an important economic indicator for tracking labor market conditions and wage growth 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 economic series represents the average weekly earnings of all private industry employees in the service-providing sectors in South Carolina. It is a key indicator for analyzing trends in wage levels, labor costs, and consumer purchasing power within the state's private service economy.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to assess the health of South Carolina's labor market and broader economic conditions.
Key Facts
- South Carolina's private service sector accounts for over 60% of the state's employment.
- Average weekly earnings in the state's private service-providing industries have risen by over 3% annually in recent years.
- Wage growth in the service sector is a key indicator of consumer purchasing power and overall economic performance.
FAQs
Q: What does this economic trend measure?
A: This metric measures the average weekly earnings of all private industry employees in the service-providing sectors located in the state of South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of labor market conditions, wage growth, and consumer purchasing power within South Carolina's private service economy.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the health of South Carolina's labor market and broader economic conditions, informing decisions on fiscal, monetary, and workforce development policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay from the reference period.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Private Service Providing in South Carolina (SMU45000000800000011), retrieved from FRED.