Earnings by Place of Work in District of Columbia
DCEPLA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
135,333,530.00
Year-over-Year Change
16.07%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Earnings by Place of Work in District of Columbia' metric tracks the average weekly wages of employees in the District of Columbia, providing key insights into the region's economic activity and cost 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 measures the average weekly wages paid to workers employed within the geographic boundaries of the District of Columbia, regardless of where those workers live. It is a useful indicator of the District's economic health and the cost of doing business in the region.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to evaluate the District's economic performance and the competitiveness of its labor market.
Key Facts
- The average weekly wage in DC was $1,824 as of the latest data.
- Wages in DC are among the highest in the nation, reflecting the region's high cost of living.
- The District's strong job market and high-paying industries attract workers from across the country.
FAQs
Q: What does this economic trend measure?
A: The 'Earnings by Place of Work in District of Columbia' metric tracks the average weekly wages of employees within the geographic boundaries of the District of Columbia, regardless of where those workers live.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the District of Columbia's economic activity and cost of living, which are crucial considerations for businesses, policymakers, and individuals evaluating the region.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate the District's economic performance and the competitiveness of its labor market, which informs decisions on taxation, regulations, and other policies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag, so there may be a delay in reflecting the most recent economic conditions in the District of Columbia.
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Citation
U.S. Federal Reserve, Earnings by Place of Work in District of Columbia (DCEPLA), retrieved from FRED.