Mining Wages and Salaries in Utah
UTWMIN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,126,469.00
Year-over-Year Change
27.10%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Mining Wages and Salaries in Utah' trend measures average hourly and weekly earnings for workers in the mining industry within the state of Utah. This metric is important for tracking economic conditions and workforce dynamics in a key sector.
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 data series represents the average hourly and weekly wages paid to workers in the mining industry in Utah. It is a useful indicator of labor costs, productivity, and compensation trends within this important component of the state's economy.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Analysts and policymakers use this metric to assess the economic health and competitiveness of Utah's mining sector.
Key Facts
- Mining is a major industry in Utah, employing over 15,000 workers.
- Average weekly mining wages in Utah exceed the state's overall private sector average.
- Mining wages have risen steadily in Utah over the past decade.
FAQs
Q: What does this economic trend measure?
A: The 'Mining Wages and Salaries in Utah' metric tracks the average hourly and weekly earnings of workers employed in the mining industry within the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This data is important for understanding labor costs, productivity, and compensation trends in Utah's mining sector, which is a crucial component of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this metric to assess the economic health and competitiveness of Utah's mining industry, which informs workforce, regulatory, and investment decisions.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, with a short delay from the reference period.
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Citation
U.S. Federal Reserve, Mining Wages and Salaries in Utah (UTWMIN), retrieved from FRED.