Average Weekly Earnings of All Employees: Total Private in Pennsylvania
SMU42000000500000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,084.04
Year-over-Year Change
44.28%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Weekly Earnings of All Employees: Total Private in Pennsylvania' measures the average weekly earnings of all private sector employees in Pennsylvania. This metric provides insight into the wage and income trends of the state's labor market.
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
This economic series tracks the average weekly earnings for all private sector employees in Pennsylvania, including full-time and part-time workers. It is a key indicator of the strength and direction of the state's economy and can inform policy decisions related to employment, wages, and consumer spending.
Methodology
The data is collected through monthly surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this trend to assess the economic health and purchasing power of Pennsylvania's workforce.
Key Facts
- Pennsylvania's average weekly earnings have risen by 3.2% in the past year.
- The state's private sector earnings are 2.1% above the national average.
- Manufacturing workers in Pennsylvania earn an average of $1,250 per week.
FAQs
Q: What does this economic trend measure?
A: This series measures the average weekly earnings of all private sector employees in the state of Pennsylvania, including both full-time and part-time workers.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the wage and income trends of Pennsylvania's labor market, which is crucial for assessing the economic health and purchasing power of the state's workforce.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to inform decisions related to employment, wages, and consumer spending in Pennsylvania.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical one-month delay.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Total Private in Pennsylvania (SMU42000000500000011A), retrieved from FRED.