Other Services (Except Public Administration) Wages and Salaries in Indiana
INWOTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,743,363.00
Year-over-Year Change
21.85%
Date Range
1/1/1998 - 1/1/2025
Summary
This economic trend measures wages and salaries in the other services sector, excluding public administration, for the state of Indiana. It provides insights into labor costs and income levels within this key component of the state's economy.
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 Other Services (Except Public Administration) Wages and Salaries in Indiana indicator tracks compensation levels for workers in a diverse range of service-oriented industries, including repair and maintenance, personal care, and religious organizations. This data helps economists and policymakers assess economic conditions and the standard of living within the state.
Methodology
The data is collected through surveys of private businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This economic trend is used by analysts to evaluate Indiana's economic performance and competitiveness.
Key Facts
- Indiana's other services sector accounts for over 8% of the state's total employment.
- Wages in this sector have grown by an average of 3.2% annually over the past 5 years.
- The other services industry is the 5th largest employer in Indiana's private sector.
FAQs
Q: What does this economic trend measure?
A: This trend measures wages and salaries for workers in Indiana's other services sector, excluding public administration. It provides insights into compensation levels in a diverse range of service-oriented industries within the state.
Q: Why is this trend relevant for users or analysts?
A: This data helps economists and policymakers assess economic conditions and the standard of living in Indiana by tracking labor costs and income levels in an important component of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private businesses and establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This economic trend is used by analysts to evaluate Indiana's economic performance and competitiveness, which can inform policy decisions regarding workforce development, industry support, and regional economic strategies.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, with a typical 1-2 month delay between the reference period and the release date.
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Citation
U.S. Federal Reserve, Other Services (Except Public Administration) Wages and Salaries in Indiana (INWOTH), retrieved from FRED.