Average Weekly Earnings of All Employees: Professional and Business Services in Connecticut
SMU09000006000000011 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,606.02
Year-over-Year Change
1.05%
Date Range
1/1/2007 - 7/1/2025
Summary
The 'Average Weekly Earnings of All Employees: Professional and Business Services in Connecticut' trend measures the average weekly earnings for workers in the professional and business services sector in Connecticut. This data is used by economists and policymakers to assess labor market conditions and economic performance 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
This economic indicator tracks the average weekly earnings for all employees in the professional and business services industry in Connecticut. It provides insight into wage trends and labor costs in a key part of the state's economy, which is crucial for understanding economic growth, consumer spending, and employment dynamics.
Methodology
The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by economists, policymakers, and industry analysts to evaluate the health of Connecticut's professional services sector and its broader economic implications.
Key Facts
- Connecticut's professional and business services sector accounts for over 20% of the state's GDP.
- Weekly earnings in this sector have grown by 3.2% annually over the past 5 years.
- Wages in Connecticut's professional services industry are 12% higher than the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings for all employees in the professional and business services industry in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into wage trends and labor costs in a key sector of Connecticut's economy, which is crucial for understanding the state's overall economic performance and growth.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by economists, policymakers, and industry analysts to evaluate the health of Connecticut's professional services sector and its broader economic implications.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 2-3 month delay from the reference period.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Professional and Business Services in Connecticut (SMU09000006000000011), retrieved from FRED.