Average Hourly Earnings of All Employees: Private Service Providing in Delaware
SMU10000000800000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31.04
Year-over-Year Change
43.31%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic indicator measures the average hourly earnings of all private service-providing employees in the state of Delaware. It provides insight into wage trends and can inform policy decisions around employment and cost 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
The Average Hourly Earnings of All Employees: Private Service Providing in Delaware is a key metric used by economists and policymakers to track changes in labor costs and standards of living within the private service sector of Delaware's economy.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is widely referenced by analysts and government agencies when evaluating economic conditions and the health of Delaware's labor market.
Key Facts
- Delaware's private service sector employs over 75% of the state's workforce.
- Average hourly earnings in Delaware's private service industry are above the national average.
- This metric has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the average hourly earnings of all private service-providing employees in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into wage growth and labor costs within Delaware's key service-providing industries, which is critical information for economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts reference this metric when evaluating the health of Delaware's labor market and making decisions around employment, cost of living, and economic development.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag, and may be subject to revision as additional information becomes available.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Private Service Providing in Delaware (SMU10000000800000003A), retrieved from FRED.