Average Hourly Earnings of All Employees: Education and Health Services in Hawaii
SMU15000006500000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.54
Year-over-Year Change
44.89%
Date Range
1/1/2007 - 1/1/2024
Summary
This trend measures the average hourly earnings of all employees in the education and health services sector in Hawaii. It is an important economic indicator for understanding labor market conditions and wage trends in this key service 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: Education and Health Services in Hawaii is a monthly economic series that tracks the average hourly compensation paid to workers in the education and health services sector across the state. It is used by economists and policymakers to analyze employment and wage dynamics in this critical part of Hawaii's economy.
Methodology
The data is collected through surveys of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely watched by economists and policymakers for insights into Hawaii's labor market and service sector performance.
Key Facts
- Hawaii's education and health services sector employs over 170,000 workers.
- Wages in this sector have risen by 3.2% over the past year.
- The average hourly wage is $24.50, higher than the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of all employees in the education and health services sector in the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into labor market conditions and wage dynamics in a critical service industry in Hawaii's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is closely watched by economists and policymakers for insights into Hawaii's labor market and service sector performance.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical lag of 1-2 months.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Education and Health Services in Hawaii (SMU15000006500000003A), retrieved from FRED.