All Employees: Retail Trade: Automobile Dealers in Ohio
Monthly, Not Seasonally Adjusted
SMU39000004244110001 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
48.90
Year-over-Year Change
0.82%
Date Range
1/1/1990 - 7/1/2025
Summary
This economic trend measures the average hourly earnings of all employees in the private nonfarm sector in Minnesota on a monthly, not seasonally adjusted basis. It provides insights into wage growth 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 Monthly, Not Seasonally Adjusted series tracks the average hourly earnings of all private nonfarm employees in Minnesota. This metric is used by economists and policymakers to analyze trends in worker compensation and assess the strength of the state's labor market.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is relevant for understanding Minnesota's economic performance and can inform policy decisions related to employment, wages, and cost of living.
Key Facts
- Minnesota's average hourly earnings reached a record high of $32.26 in March 2023.
- Wages have increased by 5.2% in Minnesota over the past 12 months.
- The state's labor force participation rate was 68.0% in February 2023.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of all private nonfarm employees in the state of Minnesota on a monthly, not seasonally adjusted basis.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into wage growth and labor market conditions in Minnesota, which is important for understanding the state's economic performance and informing policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend can inform policy decisions related to employment, wages, and cost of living in Minnesota.
Q: Are there update delays or limitations?
A: The data is published monthly, with a typical lag of several weeks from the reference period.
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Citation
U.S. Federal Reserve, Monthly, Not Seasonally Adjusted (SMU39000004244110001), retrieved from FRED.