Average Hourly Earnings of All Employees: Professional and Business Services in District of Columbia
SMU11000006000000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
66.29
Year-over-Year Change
9.16%
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 the District of Columbia. It provides insights 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 District of Columbia is a key indicator of compensation trends for workers in the professional and business services sector, a major component of the local economy. It is widely used by economists, policymakers, and businesses to assess labor market dynamics and inform economic decision-making.
Methodology
The data is collected through the Current Employment Statistics (CES) survey, a monthly survey of businesses conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by the Federal Reserve and other policymakers to understand inflationary pressures and guide monetary policy decisions.
Key Facts
- The professional and business services sector accounts for over 30% of employment in the District of Columbia.
- Wages in this sector have grown by an average of 3.2% annually over the past 5 years.
- The District of Columbia has the highest average hourly earnings for professional and business services among all U.S. states and territories.
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 District of Columbia. It provides insights into wage growth and labor market conditions in this key industry.
Q: Why is this trend relevant for users or analysts?
A: This trend is widely used by economists, policymakers, and businesses to assess labor market dynamics and inform economic decision-making, as the professional and business services sector is a major component of the local economy.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey, a monthly survey of businesses conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by the Federal Reserve and other policymakers to understand inflationary pressures and guide monetary policy decisions.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical delay of one to two months.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Professional and Business Services in District of Columbia (SMU11000006000000003), retrieved from FRED.