Average Hourly Earnings of All Employees: Private Service Providing in Mississippi
SMU28000000800000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25.96
Year-over-Year Change
42.64%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic trend measures the average hourly earnings of all private service-providing employees in Mississippi. It provides important insights into the state's labor market and cost of living trends.
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 key indicator of wage growth and labor market conditions in the state's private service sector. It is used by economists and policymakers to analyze trends in worker compensation and the overall state of the economy.
Methodology
The data is collected through surveys of private businesses by the U.S. Bureau of Labor Statistics.
Historical Context
This metric helps inform decisions around economic and workforce development policies in Mississippi.
Key Facts
- Wages in Mississippi's private service sector are below the national average.
- This metric has shown steady growth over the past decade.
- Service providing industries make up the largest share of Mississippi's private employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of all private service-providing employees in the state of Mississippi.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into wage growth and labor market conditions in Mississippi's private service sector, which is a critical part of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private businesses by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This metric helps inform decisions around economic and workforce development policies in Mississippi.
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: Private Service Providing in Mississippi (SMU28000000800000003A), retrieved from FRED.