Average Weekly Earnings of All Employees: Professional and Business Services in Rhode Island
SMU44000006000000011 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,525.39
Year-over-Year Change
-1.07%
Date Range
1/1/2007 - 6/1/2025
Summary
This economic trend measures the average weekly earnings of all employees in the professional and business services industry in Rhode Island. It provides insights into wage trends and labor market conditions in this key sector.
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 Weekly Earnings of All Employees: Professional and Business Services in Rhode Island is a key economic indicator that tracks the average weekly pay for workers in Rhode Island's professional and business services industry. This metric offers valuable insights into industry-specific wage dynamics and labor market trends.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by policymakers, economists, and businesses to gauge the health and competitiveness of Rhode Island's professional and business services sector.
Key Facts
- Rhode Island's professional and business services sector employs over 70,000 workers.
- Average weekly earnings in this industry have increased by 15% over the past 5 years.
- The professional and business services sector accounts for over 15% of Rhode Island's total employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all employees in the professional and business services industry in Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into wage dynamics and labor market conditions in a key sector of Rhode Island's economy, which is important for policymakers, businesses, and economists.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers, economists, and businesses to gauge the health and competitiveness of Rhode Island's professional and business services sector.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-month delay.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Professional and Business Services in Rhode Island (SMU44000006000000011), retrieved from FRED.