Earnings by Place of Work in Utah
UTEPLA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
172,578,202.00
Year-over-Year Change
19.42%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Earnings by Place of Work in Utah' series measures the total compensation received by workers in the state of Utah. This metric is a key indicator of economic activity and living standards.
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 total wage and salary disbursements, supplements to wages and salaries, and proprietors' income in Utah. It provides insights into the overall health and productivity of the state's labor market and is used by policymakers and analysts to assess economic conditions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and administrative records.
Historical Context
Trends in Utah earnings are closely monitored by state and federal officials for their implications on tax revenue, consumer spending, and the broader economy.
Key Facts
- Utah's total personal income was over $170 billion in 2021.
- Earnings make up over 70% of personal income in Utah.
- Utah has experienced strong employment and wage growth in recent years.
FAQs
Q: What does this economic trend measure?
A: The 'Earnings by Place of Work in Utah' series tracks the total compensation received by workers in the state, including wages, salaries, and business income.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the overall health and productivity of Utah's labor market, which is crucial for assessing the state's economic conditions and growth prospects.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and administrative records.
Q: How is this trend used in economic policy?
A: Trends in Utah earnings are closely monitored by state and federal officials for their implications on tax revenue, consumer spending, and the broader economy.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Earnings by Place of Work in Utah (UTEPLA), retrieved from FRED.