Professional and Technical Services Earnings in Tennessee
TNEPRO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
30,233,163.00
Year-over-Year Change
21.80%
Date Range
1/1/1998 - 1/1/2025
Summary
The Professional and Technical Services Earnings in Tennessee trend measures the average weekly earnings for workers in professional and technical services industries across the state. This data provides insights into the economic health and competitiveness of Tennessee's high-skilled service sectors.
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 metric tracks changes in compensation for employees in occupations such as legal services, accounting, engineering, and computer systems design. It serves as an important indicator of labor market conditions and business activity in Tennessee's knowledge-based economy.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Quarterly Census of Employment and Wages program.
Historical Context
Policymakers and analysts use this trend to assess the business climate and talent pool in Tennessee relative to national benchmarks.
Key Facts
- Tennessee's professional services earnings averaged $1,573 per week in 2022.
- This sector accounts for over 250,000 jobs in the state.
- Earnings in Tennessee's professional services have grown 18% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: The Professional and Technical Services Earnings in Tennessee trend measures the average weekly earnings for workers in professional, scientific, and technical services industries across the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the economic health and competitiveness of Tennessee's high-skilled service sectors, which are important drivers of business activity and innovation in the state.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Quarterly Census of Employment and Wages program.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the business climate and talent pool in Tennessee relative to national benchmarks, informing decisions on economic development and workforce initiatives.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Professional and Technical Services Earnings in Tennessee (TNEPRO), retrieved from FRED.