Average Hourly Earnings of All Employees: Private Service Providing in Delaware
SMU10000000800000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31.81
Year-over-Year Change
4.57%
Date Range
1/1/2007 - 7/1/2025
Summary
The Average Hourly Earnings of All Employees: Private Service Providing in Delaware measures the average hourly wage for private service workers in the state. This data point is a key economic indicator used to track labor market conditions and wage growth.
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 average hourly earnings of all employees in the private service-providing sector in Delaware. It is part of the Current Employment Statistics (CES) program, which surveys businesses to gather data on employment, hours, and earnings.
Methodology
The data is collected through a monthly survey of non-farm businesses.
Historical Context
This earnings trend is used by economists, policymakers, and market analysts to assess the strength of the Delaware labor market and make informed decisions.
Key Facts
- Delaware is a service-oriented economy.
- Wages have risen steadily in recent years.
- Service sector earnings are an important indicator of consumer spending power.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wage for employees in the private service-providing sector in Delaware, providing insight into labor market conditions and wage growth.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of the strength of the Delaware economy and consumer spending power, making it important for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of non-farm businesses conducted as part of the Current Employment Statistics (CES) program.
Q: How is this trend used in economic policy?
A: This earnings trend is used by policymakers and economists to assess labor market conditions and make informed decisions about economic policies and interventions.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a short lag, and represents a reliable and comprehensive measure of service sector earnings in Delaware.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Private Service Providing in Delaware (SMU10000000800000003), retrieved from FRED.