Average Hourly Earnings of Production Employees: Wholesale Trade in Utah
SMU49000004100000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31.43
Year-over-Year Change
37.07%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic trend measures the average hourly earnings of production employees in the wholesale trade industry in Utah. It provides important insights into wage dynamics and labor market conditions in this key economic sector.
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 Production Employees: Wholesale Trade in Utah trend tracks the mean hourly compensation for workers involved in the production, manufacturing, and distribution of goods at wholesale establishments located in the state of Utah. This metric is a valuable indicator of labor market tightness and cost pressures within the wholesale trade industry.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists closely monitor this trend to assess the economic health of the wholesale sector and broader labor market conditions.
Key Facts
- Utah's wholesale trade industry accounts for over 4% of the state's GDP.
- Wages in the wholesale sector tend to be higher than the statewide average.
- Hourly earnings in Utah's wholesale trade have increased by 12% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of production employees in the wholesale trade industry located in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into labor market conditions and wage dynamics within the wholesale trade sector, which is an important part of Utah's economy.
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 health of the wholesale trade industry and broader labor market conditions in Utah.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Wholesale Trade in Utah (SMU49000004100000008A), retrieved from FRED.