Average Weekly Earnings of All Employees: Professional and Business Services in Delaware
SMU10000006000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,263.78
Year-over-Year Change
39.58%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Earnings of All Employees: Professional and Business Services in Delaware measures the average weekly earnings for workers in the professional and business services sector in the state of Delaware. This metric provides insight into economic conditions and wage trends in a key part of the state's labor market.
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 tracks the average weekly earnings of all employees, both full-time and part-time, in the professional and business services industry within Delaware. It is a useful indicator of compensation and productivity in a major service-oriented sector of the state's economy.
Methodology
The data is collected through surveys of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists monitor this trend to assess the health of Delaware's professional services industry and broader economic conditions.
Key Facts
- Delaware's professional and business services sector employs over 120,000 workers.
- Average weekly earnings in this industry have risen by over 25% in the past decade.
- The professional services sector accounts for nearly 20% of Delaware's total GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all employees, both full-time and part-time, working in the professional and business services industry in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into wage and compensation trends in a key service-oriented sector of Delaware's economy, which is useful for assessing economic conditions and the health of the state's labor market.
Q: How is this data collected or calculated?
A: The data is collected through surveys of establishments conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to gauge the performance of Delaware's professional services industry and broader economic conditions in the state.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Professional and Business Services in Delaware (SMU10000006000000011A), retrieved from FRED.