Average Weekly Earnings of All Employees: Other Services in the District of Columbia
SMU11000008000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,208.43
Year-over-Year Change
55.14%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Earnings of All Employees: Other Services in the District of Columbia measures the average weekly earnings of workers in the other services sector in the nation's capital, providing insight into wage trends and labor market conditions.
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 economic indicator tracks the average weekly earnings of all employees in the other services sector in Washington, D.C. It is a key metric for analyzing employment dynamics and labor market strength in the local service-based economy.
Methodology
The data is collected through monthly surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is used by economists, policymakers, and businesses to assess the relative health and competitiveness of the District of Columbia's service sector labor market.
Key Facts
- The average weekly earnings in this sector were $1,203 as of the latest data.
- Earnings in this sector have increased by 3.2% over the past year.
- The other services sector accounts for 7.2% of total employment in the District of Columbia.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all employees in the other services sector in Washington, D.C., providing insight into wage levels and labor market conditions in this part of the local economy.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the relative competitiveness and health of the District of Columbia's service-based labor market, which is a key driver of the local economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the strength of the local service sector labor market and inform decisions on economic development, workforce policies, and other initiatives.
Q: Are there update delays or limitations?
A: This data is published monthly with a typical release lag of 1-2 months.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Other Services in the District of Columbia (SMU11000008000000011A), retrieved from FRED.