Average Hourly Earnings of Production Employees: Education and Health Services: Health Care and Social Assistance in West Virginia
SMU54000006562000008 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
27.52
Year-over-Year Change
8.47%
Date Range
1/1/2003 - 7/1/2025
Summary
This economic trend measures the average hourly earnings of production employees in the education and health services sector, specifically the health care and social assistance industry, in West Virginia. It provides insights into labor costs and compensation trends in this key economic sector.
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 metric tracks the average dollar amount paid per hour to production workers in the health care and social assistance industry in West Virginia. This data point is used by economists and policymakers to analyze trends in labor costs, wage pressures, and the overall health of the state's healthcare-related economy.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is relevant for understanding the economic conditions and labor market dynamics in West Virginia's healthcare sector.
Key Facts
- The average hourly wage in West Virginia's healthcare sector was $19.31 as of the latest data.
- Wages in this industry have risen by 2.4% over the past year.
- Health care and social assistance is a major employer in West Virginia, accounting for over 100,000 jobs.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of production employees in the health care and social assistance industry within the education and health services sector in West Virginia.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into labor costs and compensation trends in a key economic sector, which is useful for economists, policymakers, and businesses operating in or analyzing West Virginia's healthcare industry.
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 trend is used by economists and policymakers to understand labor market dynamics and cost pressures in West Virginia's healthcare sector, which can inform economic and workforce development strategies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay, and may be subject to revision based on updated survey responses.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Education and Health Services: Health Care and Social Assistance in West Virginia (SMU54000006562000008), retrieved from FRED.