Professional and Technical Services Earnings in Delaware
DEEPRO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,447,060.00
Year-over-Year Change
20.49%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Professional and Technical Services Earnings in Delaware' series measures the average weekly earnings for workers in the professional and technical services industry in the state of Delaware. This data point is an important economic indicator for understanding trends in the high-skilled service sector.
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 tracks the average weekly earnings for employees in industries such as legal services, accounting, engineering, computer systems design, and scientific research. It provides insight into compensation levels and trends within Delaware's knowledge-based economy.
Methodology
The data is collected through the Quarterly Census of Employment and Wages (QCEW) program by the U.S. Bureau of Labor Statistics.
Historical Context
Professional and technical services earnings are closely monitored by policymakers and analysts to gauge the health of high-skill labor markets.
Key Facts
- Delaware's professional services earnings averaged $1,798 per week in 2022.
- This sector accounts for over 10% of total employment in Delaware.
- Earnings in professional services have grown 20% faster than the statewide average since 2017.
FAQs
Q: What does this economic trend measure?
A: The 'Professional and Technical Services Earnings in Delaware' series tracks the average weekly earnings for workers in industries like legal services, accounting, engineering, and computer systems design within the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into compensation levels and trends within Delaware's high-skilled, knowledge-based economy, which is a key driver of the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected through the Quarterly Census of Employment and Wages (QCEW) program by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Professional and technical services earnings are closely monitored by policymakers and analysts to gauge the health of high-skill labor markets and inform decisions around workforce development, education, and economic growth strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Professional and Technical Services Earnings in Delaware (DEEPRO), retrieved from FRED.