Average Hourly Earnings of All Employees: Trade, Transportation, and Utilities in Rhode Island
SMU44000004000000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29.84
Year-over-Year Change
6.88%
Date Range
1/1/2007 - 6/1/2025
Summary
This economic trend measures the average hourly earnings of all employees in the trade, transportation, and utilities sector in Rhode Island. It provides insight into the labor costs and wage dynamics within this important industry.
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 Average Hourly Earnings of All Employees: Trade, Transportation, and Utilities in Rhode Island is a key economic indicator that tracks changes in the average hourly wage paid to workers in this sector across the state. It is used by economists and policymakers to assess employment conditions and inflationary pressures.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This metric helps inform monetary and fiscal policy decisions that can impact employment, consumer spending, and the overall health of the Rhode Island economy.
Key Facts
- Rhode Island is a key hub for trade, transportation, and utilities.
- Wages in this sector impact consumer spending and inflationary pressures.
- This data series dates back to 2006.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of all employees working in the trade, transportation, and utilities sector in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor costs and wage dynamics within an important industry, helping to inform economic analysis and policy decisions.
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: This indicator helps policymakers and economists assess employment conditions, consumer spending, and inflationary pressures in the Rhode Island economy.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical one-month lag.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Trade, Transportation, and Utilities in Rhode Island (SMU44000004000000003), retrieved from FRED.