Labor Compensation for Private Nonfarm in the District of Columbia
IPUZNU110110000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
137.91
Year-over-Year Change
70.25%
Date Range
1/1/2007 - 1/1/2024
Summary
This series measures labor compensation for private nonfarm industries in the District of Columbia. It is an important indicator of economic activity and worker well-being in the region.
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 labor compensation index tracks changes in wages, salaries, benefits, and other forms of compensation paid to private nonfarm workers in the District of Columbia. It provides insight into the overall health of the local labor market and helps policymakers and analysts assess economic conditions.
Methodology
The data is collected through surveys of employers and calculated by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by economists, policymakers, and businesses to understand regional economic trends and guide decision-making.
Key Facts
- The labor compensation index is published quarterly.
- The District of Columbia accounts for over 30% of the region's total private nonfarm employment.
- Compensation levels in the District tend to be higher than the national average.
FAQs
Q: What does this economic trend measure?
A: This series measures changes in total labor compensation, including wages, salaries, and benefits, for private nonfarm industries in the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the economic health and worker well-being in the District of Columbia, which is a key center of economic activity in the region.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers and calculated by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this trend to monitor regional economic conditions and make informed decisions about fiscal, monetary, and labor market policies.
Q: Are there update delays or limitations?
A: The labor compensation index is published quarterly, with a lag of approximately one month after the end of the reference period.
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Citation
U.S. Federal Reserve, Labor Compensation for Private Nonfarm in the District of Columbia (IPUZNU110110000), retrieved from FRED.