Average Weekly Earnings of All Employees: Total Private in Minnesota
SMU27000000500000011 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,322.97
Year-over-Year Change
6.16%
Date Range
1/1/2007 - 7/1/2025
Summary
The 'Average Weekly Earnings of All Employees: Total Private in Minnesota' measures the average weekly earnings for private sector workers in the state of Minnesota. This metric is a key indicator of economic conditions and wage trends.
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 for all private sector employees in Minnesota, providing insights into the state's labor market and cost of living. It is frequently used by economists, policymakers, and businesses to analyze regional economic performance and labor costs.
Methodology
The data is collected through surveys of private businesses and establishments in Minnesota and calculated by the U.S. Bureau of Labor Statistics.
Historical Context
This economic indicator helps inform decisions around monetary and fiscal policy, employment, and business investment at the state level.
Key Facts
- Minnesota's average weekly private sector earnings were $1,202 as of the latest data.
- Earnings have increased by 3.5% over the past year in Minnesota.
- This metric tracks the cost of labor for businesses in the state.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the average weekly earnings for all private sector employees in the state of Minnesota, providing insights into the state's labor market and wage levels.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important benchmark for regional economic performance, labor costs, and the standard of living in Minnesota. It helps inform decisions around policy, employment, and business investment.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private businesses and establishments in Minnesota and calculated by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this indicator to assess economic conditions, wage growth, and cost of living trends in Minnesota, which can inform decisions around fiscal, monetary, and labor market policies.
Q: Are there update delays or limitations?
A: This data is published monthly with a typical 1-2 month delay. It may not capture the most recent changes in the labor market due to the survey-based methodology.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Total Private in Minnesota (SMU27000000500000011), retrieved from FRED.