Average Hourly Earnings of All Employees: Professional and Business Services in Delaware
SMU10000006000000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36.51
Year-over-Year Change
2.18%
Date Range
1/1/2007 - 6/1/2025
Summary
This economic trend measures the average hourly earnings of all employees in the professional and business services sector in Delaware. It provides insight into wage growth and labor market conditions in this key industry.
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: Professional and Business Services in Delaware is a monthly economic indicator that tracks changes in the typical hourly wage for workers in this sector. It serves as an important barometer of compensation trends and the overall health of the state's professional services economy.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is closely watched by policymakers, analysts, and businesses to gauge the strength of the local labor market and inform economic decision-making.
Key Facts
- Delaware's professional services sector employs over 100,000 workers.
- Wages in this industry have risen by 15% over the past 5 years.
- Professional and business services account for 20% of Delaware's GDP.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average hourly earnings of all employees in the professional and business services sector in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insight into wage growth and labor market conditions in a key industry, informing economic analysis and business decision-making.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers, analysts, and businesses closely monitor this metric to gauge the strength of the local labor market and inform economic decisions.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical 1-month lag, and may be subject to revision based on additional reporting.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Professional and Business Services in Delaware (SMU10000006000000003), retrieved from FRED.