Finance and Insurance Wages and Salaries in District of Columbia
DCWFIN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,943,226.00
Year-over-Year Change
13.15%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Finance and Insurance Wages and Salaries in District of Columbia' trend measures the total wages and salaries earned by employees in the finance and insurance sector within the District of Columbia. This metric is a key indicator of economic activity and employment dynamics in the financial industry.
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 compensation paid to workers in the finance and insurance industries located in the District of Columbia. It provides insights into the relative strength and earnings power of this important economic sector within the DC metropolitan area.
Methodology
The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to assess the health and competitiveness of DC's financial services industry.
Key Facts
- The finance and insurance sector accounts for over 30% of DC's total wages.
- Finance and insurance wages in DC are over 2.5 times the national average.
- The finance industry is the largest private-sector employer in the District of Columbia.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total wages and salaries earned by employees in the finance and insurance industries located within the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the strength and competitiveness of DC's vital financial services sector, which is a key driver of the local economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments 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 assess the health and performance of the finance and insurance industries within the District of Columbia.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, but may have a short lag time before being released publicly.
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Citation
U.S. Federal Reserve, Finance and Insurance Wages and Salaries in District of Columbia (DCWFIN), retrieved from FRED.