Average Weekly Earnings of All Employees: Private Service Providing in Indiana
SMU18000000800000011 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,007.68
Year-over-Year Change
4.67%
Date Range
1/1/2007 - 7/1/2025
Summary
This economic trend measures the average weekly earnings of all private service-providing employees in the state of Indiana. It is a key indicator of labor market conditions and consumer spending power 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 Weekly Earnings of All Employees: Private Service Providing in Indiana tracks the average weekly wages paid to private sector workers in service-related industries across the state. This metric provides insight into the income levels and purchasing power of Indiana's labor force.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists analyze this trend to understand the financial well-being of Indiana's service sector workers and its implications for the broader state economy.
Key Facts
- Indiana's private service sector accounts for over 70% of total state employment.
- Average weekly earnings in this sector have risen by 25% over the past decade.
- Service industry wages are a leading indicator of consumer spending patterns in Indiana.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all private sector employees in service-providing industries across the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insight into the income levels and purchasing power of Indiana's service sector workforce, which is crucial for understanding consumer spending patterns and the broader state economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this trend to gauge the financial well-being of Indiana's service industry workers and its implications for consumer demand, state tax revenue, and overall economic conditions.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical 1-2 month lag, so it may not reflect the most up-to-date economic conditions.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Private Service Providing in Indiana (SMU18000000800000011), retrieved from FRED.