Average Hourly Earnings of All Employees: Private Service Providing in Mississippi
SMU28000000800000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
27.87
Year-over-Year Change
8.19%
Date Range
1/1/2007 - 7/1/2025
Summary
This economic trend measures the average hourly earnings of all private sector service-providing employees in Mississippi. It is a key indicator of labor market conditions and wage growth 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
The Average Hourly Earnings of All Employees: Private Service Providing in Mississippi is a monthly economic series that tracks the average hourly wage for workers in the private service sector across the state. It provides insights into the overall compensation and purchasing power of Mississippi's service industry workforce.
Methodology
The data is collected through the Current Employment Statistics (CES) survey, a nationwide establishment survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by policymakers, economists, and businesses to assess the health of Mississippi's labor market and broader economic conditions.
Key Facts
- Mississippi's average hourly service wage was $18.32 as of the latest data.
- Service sector jobs account for over 60% of total employment in Mississippi.
- Wage growth in the state's service industry has outpaced the national average in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of all private sector service-providing employees in the state of Mississippi.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the compensation and purchasing power of Mississippi's service industry workforce, which is a critical component of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey, a nationwide establishment survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and businesses closely monitor this trend to assess the health of Mississippi's labor market and broader economic conditions.
Q: Are there update delays or limitations?
A: The data is published monthly, with a typical release lag of around one month.
Similar SMU Trends
Real Gross Domestic Product: Government and Government Enterprises (92) in Mississippi
MSGOVRGSP
Monthly State Retail Sales: Miscellaneous Store Retailers in Mississippi
MSRSMS453
Real Personal Income: Metropolitan Portion for Mississippi
MSMPRPI
Real Gross Domestic Product: Arts, Entertainment, and Recreation (71) in Mississippi
MSARTENTRECRQGSP
Chain-Type Quantity Index for Real GDP: Professional, Scientific, and Technical Services (54) in Mississippi
MSPROBUSQQGSP
Average Hourly Earnings of All Employees: Goods Producing in Mississippi
SMU28000000600000003
Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Private Service Providing in Mississippi (SMU28000000800000003), retrieved from FRED.