Average Weekly Earnings of Production Employees: Wholesale Trade in Washington
SMU53000004100000030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,355.22
Year-over-Year Change
58.46%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic trend measures the average weekly earnings of production employees in the wholesale trade industry in Washington state. It provides insight into wage levels and trends in this key sector of the regional economy.
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: Wholesale Trade in Washington metric tracks the mean weekly pay for workers involved in the production, sales, and distribution activities of wholesale trade businesses located in Washington. This data point is a useful indicator of economic conditions and labor market dynamics in the state's wholesale industry.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Analysts and policymakers monitor this trend to assess the relative health and competitiveness of Washington's wholesale trade sector.
Key Facts
- Washington's wholesale trade industry accounts for over 5% of the state's total employment.
- Average weekly earnings in Washington's wholesale trade sector are around 20% higher than the national average.
- Earnings in this industry have risen by nearly 3% per year over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of production employees in the wholesale trade industry located in the state of Washington.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into wage levels and trends within a key sector of Washington's economy, which is useful for analyzing labor market conditions and overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Analysts and policymakers monitor this trend to assess the relative health and competitiveness of Washington's wholesale trade sector, which can inform economic development strategies and labor market policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag, and may be subject to periodic revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of Production Employees: Wholesale Trade in Washington (SMU53000004100000030A), retrieved from FRED.