Average Hourly Earnings of All Employees: Financial Activities in Utah
SMU49000005500000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
41.33
Year-over-Year Change
55.43%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Hourly Earnings of All Employees: Financial Activities in Utah is an economic indicator that tracks the average hourly wages of workers in the financial sector within the state of Utah. This metric provides insights into labor costs and compensation trends in a 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
This series measures the average hourly wage for all employees, including full-time and part-time workers, in the financial activities sector in Utah. It is used by economists and policymakers to analyze labor market conditions, wage pressures, and the overall health of the state's financial industry.
Methodology
The data is collected through surveys of employers conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend can inform decisions around economic and workforce policies, as well as investment and business strategies.
Key Facts
- Utah's financial activities sector employs over 100,000 workers.
- Average hourly earnings in this sector have risen by 15% over the past 5 years.
- The financial activities industry accounts for nearly 10% of Utah's total employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wages of all employees, both full-time and part-time, working in the financial activities sector within the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor costs and compensation trends in a key industry, which can inform economic and workforce policies, as well as investment and business strategies.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend can inform decisions around economic and workforce policies, as it provides insights into the financial sector's labor market conditions and wage pressures.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-month lag, and may be subject to revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Financial Activities in Utah (SMU49000005500000003A), retrieved from FRED.