Average Hourly Earnings of Production Employees: Financial Activities in West Virginia
SMU54000005500000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
22.03
Year-over-Year Change
39.78%
Date Range
1/1/2003 - 1/1/2024
Summary
This economic trend measures the average hourly earnings of production employees in the financial activities sector in West Virginia. It provides insights into wage levels and labor market dynamics in 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 Production Employees: Financial Activities in West Virginia tracks the typical wage paid to workers involved in production and similar roles within the financial services industry in this state. This metric is used by economists and policymakers to monitor labor market conditions and cost pressures.
Methodology
The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is relevant for understanding regional economic performance and guiding policies that impact employment and compensation in West Virginia's financial sector.
Key Facts
- West Virginia's financial activities sector employs over 30,000 workers.
- Wages in this industry are 15% higher than the state's overall private sector average.
- The financial activities sector accounts for 5% of West Virginia's total employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of production employees in the financial activities sector in the state of West Virginia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into wage levels and labor market dynamics in West Virginia's important financial services industry, which is useful for economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding regional economic performance and guiding policies that impact employment and compensation in West Virginia's financial sector.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Financial Activities in West Virginia (SMU54000005500000008A), retrieved from FRED.