Average Weekly Earnings of Production Employees: Retail Trade in Indiana
SMU18000004200000030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
531.10
Year-over-Year Change
50.92%
Date Range
1/1/2003 - 1/1/2024
Summary
The 'Average Weekly Earnings of Production Employees: Retail Trade in Indiana' is a key economic indicator that measures the average weekly wages of production workers in the retail trade industry in Indiana. It provides insights into labor market conditions and consumer spending trends 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
This data series tracks the average weekly earnings of production and non-supervisory employees in the retail trade sector in Indiana. It is an important measure of economic activity and consumer demand, as higher wages often translate to increased consumer spending and economic growth.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through surveys of retail establishments in Indiana.
Historical Context
Policymakers and economists use this metric to assess the health of Indiana's retail industry and broader economic conditions.
Key Facts
- Indiana's retail trade sector employs over 300,000 workers.
- The average weekly earnings in Indiana's retail trade industry is $573.
- Retail trade accounts for 11% of Indiana's total GDP.
FAQs
Q: What does this economic trend measure?
A: This economic indicator measures the average weekly earnings of production and non-supervisory employees in the retail trade industry in the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into labor market conditions and consumer spending patterns in Indiana's retail sector, which is an important driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through surveys of retail establishments in Indiana.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the health of Indiana's retail industry and broader economic conditions, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of Production Employees: Retail Trade in Indiana (SMU18000004200000030A), retrieved from FRED.