Professional and Technical Services Wages and Salaries in Delaware
DEWPRO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,691,840.00
Year-over-Year Change
20.49%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Professional and Technical Services Wages and Salaries in Delaware' trend measures the average hourly wages and salaries for workers in professional and technical service industries within the state of Delaware. This data provides insight into compensation levels for highly-skilled occupations, which is valuable for economic and workforce analysis.
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 data series tracks wages and salaries in Delaware for industries such as legal services, accounting, engineering, computer systems design, and scientific research. It is an important indicator of labor costs and competitiveness for knowledge-based sectors of the state's economy.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and businesses use this wage data to inform decisions around economic development, talent attraction, and cost-of-living adjustments.
Key Facts
- Wages in Delaware's professional and technical services sector are 12% higher than the national average.
- The sector employs over 53,000 workers in Delaware, or 12% of the state's total workforce.
- Wages in this sector have grown by 4.2% annually over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wages and salaries for workers in professional and technical service industries within the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into compensation levels for highly-skilled occupations, which is valuable for economic and workforce analysis in Delaware.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and businesses use this wage data to inform decisions around economic development, talent attraction, and cost-of-living adjustments.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month release lag.
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Citation
U.S. Federal Reserve, Professional and Technical Services Wages and Salaries in Delaware (DEWPRO), retrieved from FRED.