Average Weekly Earnings of All Employees: Information in Pennsylvania
SMU42000005000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,340.78
Year-over-Year Change
87.55%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Earnings of All Employees: Information in Pennsylvania trend measures the average weekly earnings for all employees in the information industry within the state of Pennsylvania. This metric is a key indicator of economic activity and labor market conditions.
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 trend represents the average weekly earnings for all employees, including both full-time and part-time workers, in the information industry sector of Pennsylvania's economy. It is used by economists and policymakers to analyze trends in labor costs, consumer purchasing power, and overall economic performance.
Methodology
The data is collected through surveys of Pennsylvania businesses by the U.S. Bureau of Labor Statistics.
Historical Context
This economic indicator is closely watched by government officials, industry analysts, and investors to assess the strength of Pennsylvania's information sector and its broader economic health.
Key Facts
- Pennsylvania's information sector employs over 300,000 workers.
- Average weekly earnings in the state's information industry are 25% higher than the overall state average.
- This trend has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings for all employees, both full-time and part-time, working in the information industry sector within the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into labor costs, consumer purchasing power, and the overall performance of Pennsylvania's information sector, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Pennsylvania businesses conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Government officials, industry analysts, and investors closely monitor this trend to assess the strength of Pennsylvania's information sector and its broader economic implications.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical lag of one to two months. There may be revisions to previously published figures as more complete information becomes available.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Information in Pennsylvania (SMU42000005000000011A), retrieved from FRED.