Average Hourly Earnings of All Employees: Financial Activities in Wisconsin
SMU55000005500000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
41.80
Year-over-Year Change
44.99%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Hourly Earnings of All Employees: Financial Activities in Wisconsin measures the average hourly wage for workers in the financial sector within the state. This economic indicator provides insights into labor costs and productivity in Wisconsin's financial 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
This series tracks the average hourly wage paid to all employees, including full-time and part-time workers, in the finance and insurance sectors within Wisconsin. It is a key metric for analyzing trends in labor costs and employment dynamics within the state's financial activities industry.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists use this metric to gauge the health and competitiveness of Wisconsin's financial sector.
Key Facts
- Wisconsin's financial activities sector employs over 130,000 workers.
- Average hourly earnings in this sector are 20% higher than the state's overall private-sector average.
- Wages in Wisconsin's financial activities have grown by 3.5% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wage paid to all employees, including full-time and part-time workers, in the finance and insurance sectors within the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor costs and productivity trends within Wisconsin's financial industry, which is a key driver of the state's economy.
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: Policymakers and economists use this metric to gauge the health and competitiveness of Wisconsin's financial sector, which informs economic development strategies and workforce policies.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical one-month lag, and it may be subject to revisions as additional information becomes available.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Financial Activities in Wisconsin (SMU55000005500000003A), retrieved from FRED.