Average Weekly Earnings of All Employees: Private Service Providing in Louisiana
SMU22000000800000011 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
989.56
Year-over-Year Change
2.07%
Date Range
1/1/2007 - 6/1/2025
Summary
This metric measures the average weekly earnings of all private service-providing employees in Louisiana. It provides insights into the compensation trends and economic conditions in the state's service 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 All Employees: Private Service Providing in Louisiana is a key economic indicator that tracks the average weekly pay for workers in the private service-providing industries within the state. This data is used by economists and policymakers to assess workforce trends and the overall health of the Louisiana service economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Labor Statistics through surveys of private employers.
Historical Context
This metric is utilized by government agencies, economists, and market analysts to monitor the economic conditions and purchasing power of Louisiana's private service sector workers.
Key Facts
- Louisiana's private service sector accounts for over 60% of the state's workforce.
- Average weekly earnings have risen by 20% in the last decade.
- Service industry wages tend to lag behind the broader economy during recessions.
FAQs
Q: What does this economic trend measure?
A: This metric measures the average weekly earnings for all employees working in private service-providing industries in the state of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the compensation levels and purchasing power of Louisiana's private service sector workers, which is crucial for understanding the overall health and dynamics 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 private employers in Louisiana.
Q: How is this trend used in economic policy?
A: Government agencies, economists, and market analysts use this metric to monitor workforce trends and the economic conditions in Louisiana's service sector, which informs policy decisions and investment strategies.
Q: Are there update delays or limitations?
A: The data is published monthly, with a typical 1-2 month delay. It may not capture all private service-providing employers in Louisiana due to survey coverage limitations.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Private Service Providing in Louisiana (SMU22000000800000011), retrieved from FRED.