Administrative and Waste Services Earnings in New York
This dataset tracks administrative and waste services earnings in new york over time.
Latest Value
49647658.00
Year-over-Year Change
17.49%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Administrative and Waste Services Earnings in New York' series measures average hourly earnings for workers in the administrative and waste services industry in the state of New York. This metric provides insight into the compensation trends for a key service sector in 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
This series tracks the average hourly earnings of employees in administrative and waste services occupations, which include roles such as office administration, facilities support, and waste management. It serves as an important indicator of labor market conditions and compensation in a sizable industry cluster for the New York economy.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists use this metric to assess the health of New York's service-providing industries and labor market.
Key Facts
- Administrative and waste services account for over 8% of total employment in New York.
- Earnings in this sector have grown by over 25% in the past decade.
- New York ranks among the top 5 states for employment in administrative and waste services.
FAQs
Q: What does this economic trend measure?
A: This series measures the average hourly earnings of workers employed in administrative and waste services occupations in the state of New York.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into compensation trends for a sizable service sector in the New York economy, which is useful for assessing labor market conditions and the health of the state's service-providing industries.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this series to monitor the service sector labor market in New York and inform decisions around economic and workforce development.
Q: Are there update delays or limitations?
A: There is typically a 1-2 month delay in the release of this data by the Bureau of Labor Statistics.
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Citation
U.S. Federal Reserve, Administrative and Waste Services Earnings in New York (NYEADM), retrieved from FRED.