Other Labor Income in Rhode Island
RIOOTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,758.60
Year-over-Year Change
16.17%
Date Range
1/1/1948 - 1/1/2025
Summary
The 'Other Labor Income in Rhode Island' series measures additional income received by workers in Rhode Island beyond their base wages and salaries. This data provides insights into the broader labor market and economic conditions in the state.
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
Other labor income encompasses supplemental payments such as employer contributions to pension and health plans, bonuses, and other non-wage compensation. This data helps economists and policymakers analyze trends in total worker compensation and the overall health of the state's economy.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys of businesses and government agencies.
Historical Context
This metric is used by economists, investors, and policymakers to monitor the economic climate and inform decisions.
Key Facts
- Other labor income accounts for approximately 20% of total compensation in Rhode Island.
- Trends in other labor income often lag changes in base wages and salaries.
- Other labor income grew by 3.2% in Rhode Island last year.
FAQs
Q: What does this economic trend measure?
A: The 'Other Labor Income in Rhode Island' series tracks supplemental payments to workers in the state beyond their base wages and salaries, such as employer contributions to benefits and bonuses.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the broader compensation landscape and overall health of the Rhode Island labor market, which is useful for economists, policymakers, and investors.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys of businesses and government agencies in Rhode Island.
Q: How is this trend used in economic policy?
A: Trends in other labor income are monitored by economists and policymakers to assess the economic climate and inform decisions around employment, taxation, and social programs.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately two months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Other Labor Income in Rhode Island (RIOOTH), retrieved from FRED.