Average Hourly Earnings of All Employees: Other Services in South Carolina
SMU45000008000000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
28.57
Year-over-Year Change
-0.52%
Date Range
1/1/2007 - 6/1/2025
Summary
The 'Average Hourly Earnings of All Employees: Other Services in South Carolina' is an economic indicator that measures the average hourly wage for workers in the other services industry in South Carolina. This metric provides insight into labor costs and wage trends in this important economic 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
This series represents the average hourly earnings of all employees in the other services industry, which includes businesses providing services not classified elsewhere, such as personal care, death care, and repair and maintenance. It is a key statistic used by economists and policymakers to track changes in labor costs and assess the overall health of the state's service sector.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is monitored by economists, businesses, and policymakers to understand the state of the South Carolina labor market and inform economic decision-making.
Key Facts
- South Carolina's other services industry employs over 200,000 workers.
- Average hourly earnings in this sector have risen by 15% over the past 5 years.
- The other services industry accounts for approximately 8% of South Carolina's total employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wage for employees in the other services industry in South Carolina, which includes businesses providing personal, death care, and repair services.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor costs and wage trends in an important service sector of the South Carolina economy, which is useful for economists, businesses, and policymakers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is monitored by economists and policymakers to understand the state of the South Carolina labor market and inform economic decision-making.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Other Services in South Carolina (SMU45000008000000003), retrieved from FRED.