Business Applications with Planned Wages: Total for All NAICS in Virginia
BAWBATOTALSAVA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,120.00
Year-over-Year Change
-1.41%
Date Range
7/1/2004 - 7/1/2025
Summary
This economic trend tracks the number of new business applications in Virginia that indicate planned wages, providing insights into entrepreneurial activity and economic growth 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
The Business Applications with Planned Wages: Total for All NAICS in Virginia metric measures the number of new business applications filed in Virginia that include indications of planned wages. This data point is used by economists and policymakers to assess entrepreneurial dynamism and the potential for job creation in the state's economy.
Methodology
The data is collected and published by the U.S. Census Bureau through its Business Formation Statistics program.
Historical Context
This trend is closely monitored by state and local economic development agencies to inform policy decisions and track the health of Virginia's business environment.
Key Facts
- Virginia ranked 10th nationally in new business applications in 2022.
- The state saw a 20% increase in business applications with planned wages from 2021 to 2022.
- Northern Virginia is a hub for new business formation in the state.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the number of new business applications filed in Virginia that indicate planned wages, providing insights into entrepreneurial activity and the potential for job creation in the state.
Q: Why is this trend relevant for users or analysts?
A: This data is closely monitored by economic development agencies and policymakers to assess the health of Virginia's business environment and inform decisions that support entrepreneurship and economic growth.
Q: How is this data collected or calculated?
A: The data is collected and published by the U.S. Census Bureau through its Business Formation Statistics program.
Q: How is this trend used in economic policy?
A: State and local economic development agencies use this data to track entrepreneurial activity and inform policies that foster a supportive business climate in Virginia.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, but there may be a 2-3 month lag in the most recent figures being available.
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Citation
U.S. Federal Reserve, Business Applications with Planned Wages: Total for All NAICS in Virginia (BAWBATOTALSAVA), retrieved from FRED.