Average Weekly Earnings of All Employees: Total Private in the District of Columbia
SMU11000000500000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,835.47
Year-over-Year Change
39.17%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Earnings of All Employees: Total Private in the District of Columbia measures the average weekly pay for private sector workers in the nation's capital. This data point is a key indicator of economic conditions and consumer purchasing power.
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 statistic tracks the average weekly earnings for all private sector employees in Washington, D.C. It is a closely watched metric for economists and policymakers assessing the strength of the local labor market and broader economic trends.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Changes in average weekly earnings can inform monetary and fiscal policy decisions, as well as provide insight into consumer spending patterns and overall economic performance.
Key Facts
- The average weekly earnings in DC's private sector were $1,958 as of the latest data.
- Private sector earnings in DC have increased by 3.2% over the past year.
- Wage growth in the District has outpaced the national average in recent quarters.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average weekly earnings for all private sector employees in Washington, D.C. It provides insight into compensation levels and labor market conditions in the nation's capital.
Q: Why is this trend relevant for users or analysts?
A: Changes in average weekly earnings are closely monitored by economists, policymakers, and businesses as an indicator of economic performance, consumer spending power, and labor market strength.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in average weekly earnings inform monetary and fiscal policy decisions, as well as provide insight into consumer spending patterns and overall economic conditions in the District of Columbia.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag. There may be revisions to historical data as more complete information becomes available.
Related Trends
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Per Capita Personal Consumption Expenditures: Goods for District of Columbia
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Accommodation and Food Services Earnings in District of Columbia
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Total Private in the District of Columbia (SMU11000000500000011A), retrieved from FRED.