Average Weekly Earnings of All Employees: Trade, Transportation, and Utilities in Utah
SMU49000004000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
990.31
Year-over-Year Change
33.45%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic indicator tracks the average weekly earnings of all employees in the trade, transportation, and utilities sectors in the state of Utah. It provides insights into wage trends and labor market conditions in these key industries.
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: Trade, Transportation, and Utilities in Utah is a measure of the average nominal wages paid to workers in the trade, transportation, and utilities sectors within the state. This metric is used by economists and policymakers to assess labor market dynamics and inflationary pressures.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by economists and policymakers to understand the broader economic health and consumer spending patterns in Utah.
Key Facts
- Utah's trade, transportation, and utilities sectors employ over 320,000 people.
- Average weekly earnings in these industries have increased by 25% over the past decade.
- Wages in this sector are closely tied to consumer spending and economic growth in the state.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the average weekly earnings of all employees in the trade, transportation, and utilities sectors within the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into wage trends and labor market conditions in key industries, which is crucial for understanding economic growth and consumer spending patterns in Utah.
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 closely monitor this trend to assess the overall health of Utah's economy and make informed decisions about fiscal and monetary policies.
Q: Are there update delays or limitations?
A: The data is typically released on a monthly basis, with a slight delay. There may be some limitations in capturing all employment and earnings in these sectors.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Trade, Transportation, and Utilities in Utah (SMU49000004000000011A), retrieved from FRED.