Average Weekly Earnings of Production Employees: Retail Trade in Utah
SMU49000004200000030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
590.72
Year-over-Year Change
45.54%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic trend measures the average weekly earnings of production employees in the retail trade industry in Utah. It provides important insights into the state's labor market and consumer spending patterns.
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 Production Employees: Retail Trade in Utah metric tracks the average nominal wages earned by retail workers in the state on a weekly basis. This data point is widely used by economists and policymakers to monitor labor cost trends and consumer demand.
Methodology
The data is collected through surveys of Utah businesses by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely watched as an indicator of consumer purchasing power and the health of the state's retail sector.
Key Facts
- Utah's retail sector accounts for over 10% of the state's GDP.
- Retail wages in Utah have risen by 25% over the past decade.
- The state's average retail wage is 8% below the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of production employees in the retail trade industry in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into labor costs, consumer purchasing power, and the overall health of Utah's retail sector, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Utah businesses by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor this trend as an indicator of consumer demand and the state's economic conditions, which can inform decisions on taxation, spending, and other economic policies.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, with a typical 1-2 month delay from the reference period.
Related Trends
All Employees: Transportation and Utilities in Utah
SMU49000004300000001A
90% Confidence Interval Lower Bound of Estimate of Percent of People Age 0-17 in Poverty for Utah
PPCILBU18UT49000A156NCEN
Employed Involuntary Part-Time for Utah
INVOLPTEMPUT
Gross Domestic Product: Support Activities for Mining (213) in Utah
UTSAMINNGSP
Housing Inventory: Active Listing Count in Utah
ACTLISCOUUT
All Employees: Financial Activities: Finance and Insurance in Utah
SMS49000005552000001
Citation
U.S. Federal Reserve, Average Weekly Earnings of Production Employees: Retail Trade in Utah (SMU49000004200000030A), retrieved from FRED.