Average Weekly Earnings of Production Employees: Professional and Business Services in Nebraska
SMU31000006000000030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,049.49
Year-over-Year Change
54.57%
Date Range
1/1/2005 - 1/1/2024
Summary
This trend measures the average weekly earnings of production employees in the professional and business services sector in Nebraska. It provides insight into wage growth and labor market conditions in this key industry.
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 Weekly Earnings of Production Employees: Professional and Business Services in Nebraska indicator tracks the nominal earnings of workers in this critical service industry within the state. This metric is widely used by economists and policymakers to assess employment dynamics and inflationary pressures.
Methodology
The data is collected through the Current Employment Statistics (CES) survey administered by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in professional and business services earnings are closely monitored for their implications on the broader state economy and policy decisions.
Key Facts
- Nebraska's professional and business services sector employs over 170,000 workers.
- Average weekly earnings in this industry have risen by 25% over the past decade.
- The sector accounts for nearly 15% of Nebraska's total nonfarm employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of production employees in the professional and business services sector within the state of Nebraska.
Q: Why is this trend relevant for users or analysts?
A: Tracking wages in the professional and business services industry provides important insights into labor market conditions and inflationary pressures within Nebraska's economy.
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: Trends in professional and business services earnings are closely monitored by economists and policymakers for their implications on the broader state economy and policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag, and may be subject to revision as more complete information becomes available.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of Production Employees: Professional and Business Services in Nebraska (SMU31000006000000030A), retrieved from FRED.