Average Hourly Earnings of All Employees: Professional and Business Services in Wisconsin
SMU55000006000000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36.15
Year-over-Year Change
3.05%
Date Range
1/1/2007 - 7/1/2025
Summary
This economic trend measures the average hourly earnings of all employees in the professional and business services sector in Wisconsin. It provides insights into wage dynamics and labor market conditions in a 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 All Employees: Professional and Business Services in Wisconsin tracks the typical hourly pay for workers in this sector, which includes occupations such as legal services, accounting, engineering, and management consulting. This data point is used by economists and policymakers to assess labor market trends and the broader health of the state's 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 workforce compensation, productivity, and competitiveness in Wisconsin's professional services industry.
Key Facts
- The professional and business services sector accounts for over 15% of Wisconsin's total employment.
- Wages in this sector have grown by 3.2% annually over the past 5 years.
- Wisconsin's professional services wages are 2% below the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of all employees in the professional and business services sector in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This data point provides insights into wage dynamics and labor market conditions in a key industry, which is useful for economists, policymakers, and businesses analyzing the state's economic performance.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding workforce compensation, productivity, and competitiveness in Wisconsin's professional services industry, which can inform economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-month lag.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Professional and Business Services in Wisconsin (SMU55000006000000003), retrieved from FRED.