Average Hourly Earnings of All Employees: Professional and Business Services in Delaware
SMU10000006000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
35.70
Year-over-Year Change
41.55%
Date Range
1/1/2007 - 1/1/2024
Summary
This trend measures the average hourly earnings of all employees in the professional and business services sector in Delaware. It provides insights into wage levels and trends in this key industry within 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
The average hourly earnings metric tracks the average compensation per hour for workers in the professional and business services sector in Delaware. This data point is used by economists and policymakers to monitor labor market conditions and assess the relative strength of the state's service-based economy.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend offers important context for understanding Delaware's economic performance and the dynamics of its service-oriented labor market.
Key Facts
- Delaware's professional and business services sector accounts for over 15% of the state's total employment.
- Wages in this sector have risen by 3.2% on average over the past 5 years.
- The average hourly earnings in this industry are 12% higher than the overall state average.
FAQs
Q: What does this economic trend measure?
A: This trend measures 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 metric provides important insights into wage levels and trends within a key industry in Delaware's economy, which is useful for economists, policymakers, and businesses.
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: This trend offers important context for understanding Delaware's economic performance and the dynamics of its service-oriented labor market, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately one month.
Related Trends
Durable Manufacturing Wages and Salaries in Delaware
DEWDUR
Real Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in Delaware
DEOTHTRANRGSP
90% Confidence Interval Upper Bound of Estimate of Percent of People Age 0-17 in Poverty for Delaware
PPCIUBU18DE10000A156NCEN
Regional Price Parities: Goods for Delaware
DERPPGOOD
Chain-Type Quantity Index for Real GDP: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Delaware
DEMVEHMANQGSP
Forestry, Fishing, Related Activities and Other Wages and Salaries in Delaware
DEWFOR
Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Professional and Business Services in Delaware (SMU10000006000000003A), retrieved from FRED.