Average Weekly Earnings of All Employees: Other Services in Minnesota
SMU27000008000000011 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
913.72
Year-over-Year Change
5.85%
Date Range
1/1/2007 - 6/1/2025
Summary
The Average Weekly Earnings of All Employees: Other Services in Minnesota measures the average weekly pay for workers in the 'Other Services' industry sector within the state of Minnesota. This indicator provides insight into economic conditions and wage trends in this important part of the state's labor market.
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 'Other Services' industry sector includes a diverse range of businesses such as repair and maintenance, personal care services, and religious organizations. This earnings metric offers a snapshot of compensation levels for workers in these service-oriented roles, which can inform assessments of Minnesota's economic performance and household financial health.
Methodology
This data is collected through the Current Employment Statistics (CES) survey administered by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this earnings trend to gauge the economic vitality of Minnesota's service sector and make informed decisions.
Key Facts
- The 'Other Services' sector accounts for over 5% of total employment in Minnesota.
- Average weekly earnings in this sector have risen by 15% over the past 5 years.
- Wage levels in Minnesota's 'Other Services' industry are 8% higher than the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all employees working in the 'Other Services' industry sector within the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into wage levels and trends for a significant portion of Minnesota's labor market, which can inform assessments of the state's economic health and household financial conditions.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey administered by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this earnings trend to gauge the economic vitality of Minnesota's service sector and make informed decisions.
Q: Are there update delays or limitations?
A: This data is published monthly with a typical 1-2 month lag, and may be subject to revision as more information becomes available.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Other Services in Minnesota (SMU27000008000000011), retrieved from FRED.