Other Services (except Public Administration) Earnings in Virginia
VAEOTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17,987,357.00
Year-over-Year Change
19.10%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Other Services (except Public Administration) Earnings in Virginia' trend measures the average hourly earnings of workers in the 'Other Services' industry sector in the state of Virginia. This metric provides insight into the economic well-being and purchasing power of a key service-providing segment of the state's workforce.
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 'Other Services' industry classification includes a diverse range of economic activities such as repair and maintenance, personal and laundry services, and religious, grantmaking, civic, and professional organizations. Tracking earnings in this sector helps economists and policymakers assess broader labor market conditions and consumer demand trends in Virginia.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Quarterly Census of Employment and Wages (QCEW) program.
Historical Context
This earnings metric is used by analysts to gauge the financial health and spending power of Virginians employed in the 'Other Services' sector, which has implications for the state's overall economic performance.
Key Facts
- The 'Other Services' sector accounts for over 4% of total employment in Virginia.
- Hourly earnings in this sector have risen by 12% in the past 5 years.
- Virginia's 'Other Services' earnings are consistently higher than the national average.
FAQs
Q: What does this economic trend measure?
A: The 'Other Services (except Public Administration) Earnings in Virginia' trend measures the average hourly earnings of workers in the 'Other Services' industry sector within the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the economic well-being and purchasing power of a key service-providing segment of Virginia's workforce, which has implications for the state's overall economic performance.
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 (QCEW) program.
Q: How is this trend used in economic policy?
A: This earnings metric is used by analysts to gauge the financial health and spending power of Virginians employed in the 'Other Services' sector, which informs assessments of consumer demand and broader economic conditions in the state.
Q: Are there update delays or limitations?
A: The QCEW data used to calculate this trend is typically released with a 6-month lag, so the most recent figures may not reflect the current economic situation.
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Citation
U.S. Federal Reserve, Other Services (except Public Administration) Earnings in Virginia (VAEOTH), retrieved from FRED.