Average Hourly Earnings of All Employees: Education and Health Services: Private Education and Health Services in Minnesota
SMU27000006500000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
39.00
Year-over-Year Change
5.41%
Date Range
1/1/2007 - 7/1/2025
Summary
This economic trend measures the average hourly earnings of all employees in the private education and health services sector in Minnesota. It provides insights into labor market conditions and wage dynamics in this important 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
The Average Hourly Earnings of All Employees: Education and Health Services: Private Education and Health Services in Minnesota is a key indicator of compensation levels for workers in the private education and healthcare sectors within the state. It is used by economists, policymakers, and businesses to assess labor market trends and pressures.
Methodology
The data is collected through surveys of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is relevant for understanding the economic health and competitiveness of Minnesota's private education and healthcare industries.
Key Facts
- Minnesota's private education and health services sector employs over 400,000 workers.
- Wages in this sector have risen by over 20% in the past decade.
- This trend is a leading indicator of cost pressures for healthcare providers in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of all employees in the private education and health services sector in Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into labor market conditions and wage dynamics in Minnesota's important private education and healthcare industries, which are crucial for understanding economic competitiveness and cost pressures.
Q: How is this data collected or calculated?
A: The data is collected through surveys of establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and businesses to assess labor market trends and pressures in Minnesota's private education and healthcare sectors, which are vital for the state's economic health and competitiveness.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Education and Health Services: Private Education and Health Services in Minnesota (SMU27000006500000003), retrieved from FRED.