Average Weekly Earnings of All Employees: Education and Health Services in Minnesota
SMU27000006500000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,160.92
Year-over-Year Change
46.13%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Earnings of All Employees: Education and Health Services in Minnesota measures the average weekly earnings for workers in the education and health services sector in Minnesota. This metric provides insight into labor market trends and economic conditions 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 tracks the average weekly earnings for all employees in the education and health services industry within the state of Minnesota. It serves as an important indicator of economic activity, wage growth, and employment conditions in this key sector.
Methodology
The data is collected through surveys of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to assess the overall health of Minnesota's economy and make informed decisions.
Key Facts
- Minnesota's education and health services sector employs over 550,000 people.
- Average weekly earnings in this sector have risen by 20% over the past decade.
- The education and health services industry accounts for nearly 20% of Minnesota's GDP.
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 sector within the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into labor market conditions, wage growth, and economic activity in a key industry in Minnesota.
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: Policymakers and analysts use this metric to assess the overall health of Minnesota's economy and make informed decisions.
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.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Education and Health Services in Minnesota (SMU27000006500000011A), retrieved from FRED.