Earnings by Place of Work in Virginia
VAEPLA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
480,404,217.00
Year-over-Year Change
20.27%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Earnings by Place of Work in Virginia' metric measures the total compensation, including wages and salaries, earned by workers in the state of Virginia. This data is crucial for understanding regional economic activity and standards of living.
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 represents the total earnings of all workers, across both private and public sectors, who are employed within the state of Virginia. It is a key indicator of the overall economic health and productivity of the state.
Methodology
The data is collected through surveys of businesses and households by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use this metric to assess the strength of Virginia's labor market and make informed decisions about economic development programs.
Key Facts
- Virginia's total earnings reached over $540 billion in 2021.
- Earnings growth in Virginia has outpaced the national average in recent years.
- The largest contributor to Virginia's total earnings is the professional and business services sector.
FAQs
Q: What does this economic trend measure?
A: The 'Earnings by Place of Work in Virginia' metric measures the total compensation, including wages and salaries, earned by workers who are employed within the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This data is crucial for understanding the overall economic activity and standards of living in the state of Virginia, as it provides insights into the strength of the labor market and the productivity of the regional economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and households by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the strength of Virginia's labor market and make informed decisions about economic development programs and initiatives.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis, with a typical delay of several months, and may be subject to revisions as additional information becomes available.
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Citation
U.S. Federal Reserve, Earnings by Place of Work in Virginia (VAEPLA), retrieved from FRED.