Professional and Technical Services Earnings in Hawaii
HIEPRO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,456,606.00
Year-over-Year Change
18.74%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Professional and Technical Services Earnings in Hawaii' series measures the average weekly earnings for workers in the professional, scientific, and technical services industry in Hawaii. This metric provides insight into the compensation levels and economic trends within Hawaii's knowledge-based services 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
The professional and technical services industry includes a range of specialized occupations such as legal services, accounting, consulting, engineering, and scientific research. This earnings series offers a window into the income levels and spending power of a key component of Hawaii's economy.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Tracking professional services earnings is valuable for understanding consumer demand, inflation pressures, and the overall vitality of Hawaii's economy.
Key Facts
- Hawaii's professional services sector accounts for over 10% of total state employment.
- Average weekly earnings in this industry are around 50% higher than the statewide average.
- Professional services earnings have grown steadily in Hawaii over the past decade.
FAQs
Q: What does this economic trend measure?
A: The 'Professional and Technical Services Earnings in Hawaii' series tracks the average weekly earnings for workers in Hawaii's professional, scientific, and technical services industry.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the compensation levels and economic vitality of a key services sector in Hawaii, which is valuable for understanding consumer demand, inflation, and broader economic conditions.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Tracking professional services earnings in Hawaii is useful for policymakers, economists, and market analysts to assess consumer spending power, labor market conditions, and overall economic performance.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag between the reference period and public release.
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Citation
U.S. Federal Reserve, Professional and Technical Services Earnings in Hawaii (HIEPRO), retrieved from FRED.