Average Weekly Earnings of All Employees: Other Services in Pennsylvania
Annual
SMU42000008000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
815.07
Year-over-Year Change
41.84%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the annual average of total nonfarm employment in Washington state. It is a key indicator of economic growth 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
The Annual trend represents the average number of people employed in nonfarm industries in the state of Washington over the course of a calendar year. It is a widely tracked economic indicator used to assess overall employment levels and labor market trends.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This annual employment metric is closely monitored by policymakers, analysts, and businesses to understand the health of the state's economy.
Key Facts
- Annual nonfarm employment in Washington averaged 3.1 million in 2022.
- Employment levels have grown by over 25% in the state since 2010.
- The annual data is released with a 1-month lag by the Bureau of Labor Statistics.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average level of total nonfarm employment in the state of Washington over a calendar year.
Q: Why is this trend relevant for users or analysts?
A: This annual employment metric is a key indicator of the overall health and growth of Washington's economy, providing important context for policymakers, businesses, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of business establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor the Annual nonfarm employment trend to assess labor market conditions and inform decisions around economic and workforce development policies.
Q: Are there update delays or limitations?
A: The annual data is released with a 1-month lag by the Bureau of Labor Statistics.
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Citation
U.S. Federal Reserve, Annual (SMU42000008000000011A), retrieved from FRED.