Average Weekly Earnings of All Employees: Education and Health Services in Massachusetts
SMU25000006500000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,228.11
Year-over-Year Change
45.52%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Weekly Earnings of All Employees: Education and Health Services in Massachusetts' measures the average hourly earnings of workers in the education and health services sector in Massachusetts. This key economic indicator provides insight into labor market conditions and trends in the state's service economy.
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 series tracks the average weekly earnings of all employees in the education and health services industry in Massachusetts. It is an important economic indicator that reflects wage growth, labor market tightness, and the overall health of the service sector in the state.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is closely watched by policymakers, economists, and businesses to gauge the state's economic performance and inform policy decisions.
Key Facts
- The series began in January 2007.
- Massachusetts is a major hub for education and healthcare industries.
- Wages in this sector can indicate broader economic trends in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all employees in the education and health services industry in Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into wage growth, labor market conditions, and the overall health of the service sector in Massachusetts, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is closely watched by policymakers, economists, and businesses to gauge the state's economic performance and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical release delay of several weeks.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Education and Health Services in Massachusetts (SMU25000006500000011A), retrieved from FRED.