Average Hourly Earnings of All Employees: Trade, Transportation, and Utilities in Utah
SMU49000004000000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
30.67
Year-over-Year Change
-1.76%
Date Range
1/1/2007 - 6/1/2025
Summary
This economic trend measures the average hourly earnings of all employees in the trade, transportation, and utilities sector in Utah. It provides insights into wage dynamics and labor market conditions in this 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 Hourly Earnings of All Employees: Trade, Transportation, and Utilities in Utah series tracks changes in the average hourly compensation for workers in this sector, which encompasses a range of industries crucial to the state's economy. Economists and policymakers monitor this metric to gauge broader employment and income trends.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is widely used to inform economic policy decisions and analyze the health of Utah's labor market.
Key Facts
- Utah's trade, transportation, and utilities sector employs over 300,000 workers.
- Average hourly earnings in this sector have increased by 15% over the past 5 years.
- The state's transportation and warehousing industry accounts for a significant portion of total earnings.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of all employees working in the trade, transportation, and utilities sector in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into wage dynamics and labor market conditions in a crucial industry for Utah's economy, which can inform economic policies and business decisions.
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 economists use this trend to assess the health of Utah's labor market and inform decisions related to employment, wages, and economic development.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical 1-2 month delay from the reference period.
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Average Hourly Earnings of All Employees: Trade, Transportation, and Utilities in Utah
SMU49000004000000003A
Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Trade, Transportation, and Utilities in Utah (SMU49000004000000003), retrieved from FRED.