Average Weekly Earnings of All Employees: Other Services in Tennessee
SMU47000008000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
888.02
Year-over-Year Change
45.88%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Earnings of All Employees: Other Services in Tennessee measures the average weekly pay for workers in the Other Services sector in Tennessee. This trend is a key indicator of economic conditions and consumer 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
The Other Services sector covers a diverse range of establishments that provide services not classified elsewhere, such as repair and maintenance, personal care, and religious and civic organizations. Monitoring earnings in this sector provides insights into the overall health of the Tennessee 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 trend to assess the strength of the Tennessee labor market and consumer spending patterns.
Key Facts
- The average weekly earnings in Tennessee's Other Services sector was $637 as of the latest data.
- Earnings in this sector have increased by 3.2% over the past year.
- The Other Services sector accounts for over 4% of total employment in Tennessee.
FAQs
Q: What does this economic trend measure?
A: The Average Weekly Earnings of All Employees: Other Services in Tennessee measures the average weekly pay for workers in the Other Services sector in the state.
Q: Why is this trend relevant for users or analysts?
A: Monitoring earnings in the Other Services sector provides insights into the overall health of the Tennessee economy, as it covers a diverse range of service-based establishments that are important for consumer spending and labor market conditions.
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 trend to assess the strength of the Tennessee labor market and consumer spending patterns, which informs decision-making on economic policies.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical release lag of approximately one month.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Other Services in Tennessee (SMU47000008000000011A), retrieved from FRED.