Average Hourly Earnings of All Employees: Financial Activities in Virginia
SMU51000005500000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
43.41
Year-over-Year Change
7.88%
Date Range
1/1/2007 - 7/1/2025
Summary
This economic trend measures the average hourly earnings of all employees in the financial activities sector in Virginia. It provides insight into wage levels and trends within this 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
The Average Hourly Earnings of All Employees: Financial Activities in Virginia series tracks the typical hourly compensation for workers in the financial services, insurance, and real estate industries across the state. This data is used by economists and policymakers to assess the labor market conditions and cost of living in Virginia's financial sector.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This metric informs analysis of the broader economic health and competitiveness of Virginia's financial services industry.
Key Facts
- Virginia's financial activities sector employs over 300,000 workers.
- Average hourly earnings in this industry are over 50% higher than the state's overall private sector average.
- Wage growth in financial activities has outpaced the broader Virginia economy in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wages paid to employees in Virginia's financial activities sector, including finance, insurance, and real estate.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into labor costs and compensation trends within a key industry for Virginia's economy, informing analysis of the state's economic competitiveness.
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 use this metric to assess the health and cost structure of Virginia's financial services industry, which is a major driver of the state's overall economic performance.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag between the reference period and public release.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Financial Activities in Virginia (SMU51000005500000003), retrieved from FRED.