Average Weekly Earnings of All Employees: Professional and Business Services in Utah
SMU49000006000000011 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,611.47
Year-over-Year Change
7.67%
Date Range
1/1/2007 - 7/1/2025
Summary
The Average Weekly Earnings of All Employees: Professional and Business Services in Utah is an important economic indicator that measures the average weekly earnings of workers in the professional and business services sector in Utah.
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 economic trend provides insight into the overall compensation levels and purchasing power of workers in Utah's professional and business services industry, which is a key driver of the state's economy. It is used by economists, policymakers, and businesses to analyze labor market conditions and trends.
Methodology
The data is collected through surveys of employers conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is closely watched by analysts to gauge the strength of Utah's labor market and consumer demand.
Key Facts
- Utah's professional and business services sector accounts for over 15% of the state's employment.
- Average weekly earnings in this sector have grown by over 25% in the past decade.
- The professional and business services industry is a major contributor to Utah's economic growth.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all employees in the professional and business services sector in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the labor market and compensation levels in a key industry for Utah's economy, which is useful for economists, policymakers, and businesses.
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: This metric is closely monitored by analysts and policymakers to gauge the strength of Utah's labor market and consumer demand, which informs economic policies and business decisions.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, but there may be some delays in reporting due to the survey-based data collection process.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Professional and Business Services in Utah (SMU49000006000000011), retrieved from FRED.