Average Weekly Earnings of All Employees: Private Service Providing in Minnesota
SMU27000000800000011 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,264.10
Year-over-Year Change
5.83%
Date Range
1/1/2007 - 7/1/2025
Summary
The 'Average Weekly Earnings of All Employees: Private Service Providing in Minnesota' measures the average weekly earnings of private service-providing workers in Minnesota. This trend is a key indicator of economic activity and consumer purchasing power in the state.
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 represents the average weekly earnings of all employees in the private service-providing sector in Minnesota. It is used by economists and policymakers to track changes in labor costs, consumer spending power, and overall economic conditions 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 trend is closely monitored by the Federal Reserve and state economic development agencies to inform policy decisions and business strategies.
Key Facts
- Minnesota's private service-providing sector accounts for over 70% of the state's total employment.
- Average weekly earnings in this sector have increased by 15% over the past decade.
- Trends in this data help policymakers assess the overall health of Minnesota's economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all employees in the private service-providing sector in Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This trend is an important indicator of labor costs, consumer spending power, and overall economic conditions in Minnesota.
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: The Federal Reserve and state economic development agencies closely monitor this trend to inform policy decisions and business strategies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical delay of 1-2 months from the reference period.
Related Trends
Imports of Goods: Manufactured Commodities for Minnesota
IMPMANMN
Real Gross Domestic Product: Ambulatory Health Care Services (621) in Minnesota
MNAMBHCRGSP
Housing Inventory: Median Listing Price Month-Over-Month in Minnesota
MEDLISPRIMMMN
Total Unemployed, Plus All Marginally Attached Workers, Plus Total Employed Part Time for Economic Reasons, as a Percent of the Civilian Labor Force Plus All Marginally Attached Workers for Minnesota
U6UNEM6MN
Poverty Universe, Age 0-17 for Minnesota
PUA0T17MN27000A647NCEN
Number of Identified Exporters to Denmark from Minnesota
MNDNKA475SCEN
Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Private Service Providing in Minnesota (SMU27000000800000011), retrieved from FRED.