Administrative and Waste Services Wages and Salaries in Minnesota
MNWADM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,180,366.00
Year-over-Year Change
2.34%
Date Range
1/1/1998 - 1/1/2025
Summary
The Administrative and Waste Services Wages and Salaries in Minnesota series measures the average weekly wages and salaries for the administrative and waste services industry in the state of Minnesota. This data is crucial for understanding economic trends and labor market conditions in the 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
This series provides insights into the compensation levels for workers in administrative and waste services occupations across Minnesota. It is an important economic indicator used by policymakers, analysts, and businesses to evaluate labor market dynamics and cost pressures in this key industry.
Methodology
The data is collected through surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely watched by economists and policymakers to assess the health of the Minnesota service economy.
Key Facts
- Minnesota's administrative and waste services industry employs over 190,000 workers.
- Average weekly wages in this sector have risen by 25% over the past decade.
- The industry accounts for approximately 7% of Minnesota's total private-sector employment.
FAQs
Q: What does this economic trend measure?
A: This series measures the average weekly wages and salaries for workers in the administrative and waste services industry across the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into labor market conditions and compensation levels in a key service sector of the Minnesota economy, which is crucial for economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The data is collected through surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers closely monitor this trend to assess the health of the Minnesota service economy and make informed decisions regarding economic and labor market policies.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis, with a typical delay of 2-3 months from the end of the reference period.
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Citation
U.S. Federal Reserve, Administrative and Waste Services Wages and Salaries in Minnesota (MNWADM), retrieved from FRED.