Professional and Technical Services Earnings in Louisiana
LAEPRO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13,853,927.00
Year-over-Year Change
19.21%
Date Range
1/1/1998 - 1/1/2025
Summary
The Professional and Technical Services Earnings in Louisiana trend measures average weekly earnings for employees in the professional and technical services industry in the state of Louisiana. This metric is important for economists and policymakers to track the health of the state's knowledge-based 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
This series represents the average weekly earnings of employees in the professional, scientific, and technical services sector in Louisiana. It provides insight into compensation levels and labor market trends in high-skill, high-wage occupations like engineering, accounting, legal services, and consulting.
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
Trends in professional services earnings can inform state economic development policies and provide context for private sector investment decisions.
Key Facts
- Louisiana's professional services earnings averaged $1,422 per week in 2022.
- Earnings in this sector have grown by over 20% since 2012.
- Professional services account for 8% of total employment in Louisiana.
FAQs
Q: What does this economic trend measure?
A: The Professional and Technical Services Earnings in Louisiana trend measures the average weekly earnings of employees in the professional, scientific, and technical services sector within the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into compensation levels and labor market trends in high-skill, knowledge-based occupations in Louisiana, which can inform economic development strategies and business investment decisions.
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: Trends in professional services earnings can help policymakers and economic development agencies understand the strength of Louisiana's knowledge-based economy and guide efforts to attract and retain high-skilled talent.
Q: Are there update delays or limitations?
A: The QCEW data is released on a quarterly basis, so there may be a several-month delay in the most recent data being available.
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Citation
U.S. Federal Reserve, Professional and Technical Services Earnings in Louisiana (LAEPRO), retrieved from FRED.