Average Hourly Earnings of All Employees: Total Private in the District of Columbia
SMU11000000500000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
51.27
Year-over-Year Change
39.17%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic trend measures the average hourly earnings of all private sector employees in the District of Columbia. It is a key indicator of labor market conditions and wage growth in the region.
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: Total Private in the District of Columbia is a monthly statistic that tracks the mean hourly pay for private sector workers in the nation's capital. Economists and policymakers use this data to gauge the strength of the local labor market and assess broader wage trends.
Methodology
The data is collected through surveys of private businesses and establishments in the District of Columbia.
Historical Context
This earnings metric is closely watched by the Federal Reserve and other government agencies to help inform economic and monetary policy decisions.
Key Facts
- The District of Columbia has the highest average private sector wages in the U.S.
- Wages in D.C. have grown faster than the national average in recent years.
- The services and professional sectors are the highest-paying industries in the District.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of all private sector employees in the District of Columbia. It provides insight into local wage levels and growth.
Q: Why is this trend relevant for users or analysts?
A: This data is a key indicator of labor market conditions and wage growth in the District of Columbia, which is important for evaluating the regional economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private businesses and establishments in the District of Columbia.
Q: How is this trend used in economic policy?
A: The Federal Reserve and other government agencies closely monitor this earnings metric to help inform economic and monetary policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Total Private in the District of Columbia (SMU11000000500000003A), retrieved from FRED.