Average Hourly Earnings of All Employees: Private Service Providing in Louisiana
SMU22000000800000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
28.86
Year-over-Year Change
4.68%
Date Range
1/1/2007 - 7/1/2025
Summary
This economic trend measures the average hourly earnings of all private sector service workers in Louisiana. It provides insight into wage levels and changes in the state's service-providing industries.
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: Private Service Providing in Louisiana tracks the typical hourly wage rate for service sector workers in the state. This metric is used by economists and policymakers to analyze labor market conditions and the purchasing power of Louisiana workers.
Methodology
The data is collected through surveys of private businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is relevant for understanding the Louisiana economy and making informed policy decisions.
Key Facts
- Louisiana's service sector accounts for over 80% of the state's GDP.
- Average hourly earnings in Louisiana's private service industries have risen by 10% over the past 5 years.
- Service sector wages in Louisiana tend to be lower than the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wage rate for private sector service workers in Louisiana, providing insight into labor market conditions in the state's service industries.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the purchasing power and living standards of Louisiana workers, as well as the overall health of the state's service-providing economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private businesses and establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers use this trend to monitor labor market conditions and make informed decisions about economic and workforce development in Louisiana.
Q: Are there update delays or limitations?
A: The data is updated monthly, but there can be a 1-2 month lag in reporting.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Private Service Providing in Louisiana (SMU22000000800000003), retrieved from FRED.