Average Hourly Earnings of All Employees: Professional and Business Services in Hawaii
SMU15000006000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.05
Year-over-Year Change
58.00%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic trend measures the average hourly earnings of all employees in the professional and business services sector in Hawaii. It is an important indicator of labor costs and the strength of the service economy in the state.
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 Hawaii tracks the average hourly compensation for workers in this key industry sector. It provides insights into labor market conditions and wage pressures within Hawaii's professional services industries.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists use this trend to assess the overall health of Hawaii's service-based economy and labor market.
Key Facts
- Hawaii's professional and business services sector accounts for over 15% of the state's employment.
- Average hourly earnings in this sector have grown by over 30% in the past decade.
- The trend tracks a key component of the state's economic output and cost structure.
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 Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into labor market conditions and wage pressures within Hawaii's professional services industries, which is important for understanding the overall health of the state's service-based economy.
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: Policymakers and economists use this trend to assess the strength of Hawaii's service-based economy and labor market, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-month lag, and may be subject to revisions.
Related Trends
Coefficient for Transportation Carbon Dioxide Emissions, Residential for Hawaii
EMISSCO2CCLACBHIA
Forestry, Fishing, Related Activities and Other Wages and Salaries in Hawaii
HIWFOR
Industrial Carbon Dioxide Emissions, Industrial Other for Hawaii
EMISSCO2VCLICBHIA
Arts, Entertainment and Recreation Earnings in Hawaii
HIEART
Average Weekly Hours of All Employees: Private Service Providing in Hawaii
SMU15000000800000002A
Total Carbon Dioxide Emissions From All Sectors, Coal for Hawaii
EMISSCO2TOTVTTCOHIA
Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Professional and Business Services in Hawaii (SMU15000006000000003A), retrieved from FRED.