Average Weekly Earnings of Production Employees: Health Care and Social Assistance in Indiana
SMU18000006562000030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
967.53
Year-over-Year Change
54.89%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic trend measures the average weekly earnings of production employees in the health care and social assistance industry in Indiana. It provides insights into labor costs and compensation trends in this key sector.
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 Production Employees: Health Care and Social Assistance in Indiana metric tracks the average weekly pay for non-managerial workers in this important industry within the state. It is a useful indicator of labor market conditions and compensation levels in the health care and social services sectors.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is monitored by policymakers, economists, and industry analysts to assess economic performance and labor market dynamics.
Key Facts
- Indiana's health care and social assistance sector employs over 400,000 workers.
- Average weekly earnings in this industry have risen by 20% over the past 5 years.
- Wages in the sector are typically higher than the statewide private industry average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of production and non-supervisory employees in the health care and social assistance industry in the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor costs and compensation trends in a key sector of Indiana's economy, which is important for assessing economic performance and labor market dynamics.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is monitored by policymakers, economists, and industry analysts to understand labor market conditions and compensation levels in Indiana's health care and social services sectors.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical 1-2 month delay from the reference period.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of Production Employees: Health Care and Social Assistance in Indiana (SMU18000006562000030A), retrieved from FRED.