Average Weekly Earnings of All Employees: Financial Activities in Minnesota
SMU27000005500000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,737.50
Year-over-Year Change
47.20%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Earnings of All Employees: Financial Activities in Minnesota tracks the average weekly earnings of workers in the financial activities sector in the state of Minnesota. This metric provides insight into economic conditions and wage trends in the local financial industry.
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 economic indicator measures the average weekly earnings of all employees, including both full-time and part-time workers, in the financial activities sector within the state of Minnesota. The data helps analysts and policymakers understand compensation levels and income growth in the state's finance and insurance industries.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in average weekly earnings are closely watched by economists and financial analysts as an indicator of labor market conditions and consumer purchasing power.
Key Facts
- Minnesota's financial activities sector employs over 200,000 workers.
- Average weekly earnings in this sector are over 50% higher than the state's overall private sector average.
- Earnings growth in Minnesota's financial activities has outpaced the national average in recent years.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the average weekly earnings of all employees, both full-time and part-time, working in the financial activities sector within the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: Trends in average weekly earnings in the financial sector provide insight into compensation levels, labor market conditions, and economic performance in this key industry within the state.
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: Analysts and policymakers monitor this indicator to assess the financial health of Minnesota's economy and make informed decisions regarding employment, taxation, and other economic policies.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical lag of one to two months from the reference period.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Financial Activities in Minnesota (SMU27000005500000011A), retrieved from FRED.