Average Hourly Earnings of All Employees: Other Services in North Carolina
SMU37000008000000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
28.04
Year-over-Year Change
2.64%
Date Range
1/1/2007 - 6/1/2025
Summary
The Average Hourly Earnings of All Employees: Other Services in North Carolina tracks the average hourly wage for workers in the other services sector in the state. This metric is a key indicator of labor market conditions and wage growth in North Carolina's service economy.
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' sector includes a diverse range of industries, such as personal care, repair and maintenance, and religious and civic organizations. Tracking average hourly earnings in this sector provides insights into service-sector compensation trends that complement broader labor market indicators.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is used by economists, policymakers, and businesses to assess labor market dynamics and cost pressures in North Carolina's service economy.
Key Facts
- The data is released monthly by the U.S. Bureau of Labor Statistics.
- North Carolina's other services sector employs over 300,000 workers.
- Average hourly earnings in this sector have risen by 3.2% over the past year.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average hourly wage for employees in the 'Other Services' sector in North Carolina, which includes industries like personal care, repair services, and religious organizations.
Q: Why is this trend relevant for users or analysts?
A: Average hourly earnings in the other services sector provide insight into compensation trends and labor market conditions in an important part of North Carolina's service economy.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and businesses use this metric to assess labor market dynamics and cost pressures in North Carolina's service sector, which can inform decisions around employment, wages, and economic development.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical 1-2 month lag. There may be revisions to previously published figures as additional information becomes available.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Other Services in North Carolina (SMU37000008000000003), retrieved from FRED.