Average Weekly Earnings of All Employees: Private Service Providing in Wisconsin
SMU55000000800000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,019.48
Year-over-Year Change
45.19%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Earnings of All Employees: Private Service Providing in Wisconsin is an important economic indicator that tracks the average weekly earnings of private sector service workers in the state.
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 series measures the average weekly earnings of all employees in the private service-providing industries in Wisconsin. It is a key metric for assessing the economic health and purchasing power of workers in the state's service sector.
Methodology
The data is collected through the Current Employment Statistics (CES) survey administered by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by policymakers, analysts, and businesses to understand consumer spending, labor market conditions, and inflationary pressures in Wisconsin.
Key Facts
- Wisconsin's private service sector accounts for over 70% of the state's employment.
- Average weekly earnings in the sector have risen by 18% over the past decade.
- Service sector wages typically lag manufacturing, but have seen stronger growth recently.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the average weekly earnings of all employees in the private service-providing industries in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key gauge of the economic health and purchasing power of workers in Wisconsin's crucial service sector, which makes up the majority of the state's employment.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey administered by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers, analysts, and businesses closely monitor this trend to understand consumer spending, labor market conditions, and inflationary pressures in Wisconsin.
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 revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Private Service Providing in Wisconsin (SMU55000000800000011A), retrieved from FRED.