Net Earnings by Place of Residence in South Carolina
SCENET • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
192,135,892.00
Year-over-Year Change
22.05%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Net Earnings by Place of Residence in South Carolina' metric measures the total wages and salaries earned by residents of South Carolina. This data provides insights into the state's economic activity and standard of living.
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 total net earnings, which includes wages, salaries, and other compensation, of individuals who live in South Carolina. It is a key indicator of the economic well-being and income levels of the state's population.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) based on surveys and administrative records.
Historical Context
This metric is widely used by policymakers, economists, and analysts to assess the financial health and growth trends of the South Carolina economy.
Key Facts
- Net earnings in South Carolina totaled $233 billion in 2021.
- The state's net earnings have grown by an average of 4.2% annually over the past decade.
- South Carolina's net earnings per capita were $44,800 in 2021.
FAQs
Q: What does this economic trend measure?
A: The 'Net Earnings by Place of Residence in South Carolina' metric measures the total wages, salaries, and other compensation earned by individuals living in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the overall economic activity and standard of living in South Carolina, which is valuable for policymakers, businesses, and researchers analyzing regional economic trends.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and administrative records.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the financial health and growth trends of the South Carolina economy, which informs decisions on taxation, spending, and economic development initiatives.
Q: Are there update delays or limitations?
A: The data is typically released with a 3-month lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Net Earnings by Place of Residence in South Carolina (SCENET), retrieved from FRED.