Business Applications with Planned Wages for Pennsylvania
WBUSAPPWNSAPAYY • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-3.12
Year-over-Year Change
-148.37%
Date Range
1/6/2007 - 6/28/2025
Summary
The 'Business Applications with Planned Wages for Pennsylvania' series tracks the number of new business applications in Pennsylvania that indicate the business plans to pay wages. It provides insight into entrepreneurial activity and economic dynamism in the state.
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 indicator measures the number of new business applications filed in Pennsylvania that include an intention to pay wages. It serves as a real-time proxy for new business creation and economic growth, as new business formation often precedes hiring and investment.
Methodology
The data is collected by the U.S. Census Bureau from business applications filed with the Internal Revenue Service.
Historical Context
Policymakers and analysts use this metric to monitor entrepreneurial activity and assess the health of the state's economy.
Key Facts
- Pennsylvania ranked 6th among U.S. states for new business applications in 2021.
- Applications with planned wages in Pennsylvania peaked in Q4 2020 at over 31,000.
- The series has shown increased volatility since the COVID-19 pandemic began.
FAQs
Q: What does this economic trend measure?
A: The 'Business Applications with Planned Wages for Pennsylvania' series tracks the number of new business applications filed in Pennsylvania that indicate the business plans to pay wages.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into entrepreneurial activity and economic dynamism in Pennsylvania, as new business formation often precedes hiring and investment.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau from business applications filed with the Internal Revenue Service.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to monitor entrepreneurial activity and assess the health of Pennsylvania's economy.
Q: Are there update delays or limitations?
A: The series has shown increased volatility since the COVID-19 pandemic began, and there may be delays in reporting new business applications.
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Citation
U.S. Federal Reserve, Business Applications with Planned Wages for Pennsylvania (WBUSAPPWNSAPAYY), retrieved from FRED.