Average Weekly Earnings of All Employees: Professional and Business Services in Mississippi
Annual
SMU28000006000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
971.25
Year-over-Year Change
36.66%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual series measures the average annual growth rate of state-level employment in Hawaii. This data point is a key indicator of economic performance and labor market 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
The Annual series tracks the year-over-year change in total nonfarm employment in Hawaii. It is a widely followed measure of the state's economic health and a useful input for policymakers and analysts assessing workforce trends.
Methodology
The data is collected through surveys of businesses and households by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists closely monitor this series to understand the overall direction of Hawaii's economy.
Key Facts
- Hawaii's annual employment growth averaged 1.5% over the past decade.
- The Annual series reached a low of -5.2% during the COVID-19 pandemic in 2020.
- Employment in Hawaii's tourism and hospitality sectors are a major driver of the Annual trend.
FAQs
Q: What does this economic trend measure?
A: The Annual series measures the year-over-year change in total nonfarm employment in the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This data point is a key indicator of Hawaii's economic performance and labor market conditions, making it highly relevant for policymakers, businesses, and economists analyzing the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and households by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor the Annual series to understand the overall direction of Hawaii's economy and make informed decisions about economic policy.
Q: Are there update delays or limitations?
A: The Annual series is published monthly with a typical release lag of one to two months.
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Citation
U.S. Federal Reserve, Annual (SMU28000006000000011A), retrieved from FRED.