Average Weekly Earnings of All Employees: Other Services in South Carolina
SMU45000008000000011 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
945.67
Year-over-Year Change
-6.46%
Date Range
1/1/2007 - 6/1/2025
Summary
The Average Weekly Earnings of All Employees: Other Services in South Carolina measures the average weekly pay for workers in the service sector in the state. This statistic provides insight into broader economic trends and standards of living.
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 economic indicator tracks the average weekly earnings of all employees in the 'Other Services' industry sector in South Carolina. It represents the typical wage for workers in a range of service-based occupations, which can signal broader labor market conditions and consumer demand.
Methodology
The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to assess the health of the state's service economy and make informed decisions.
Key Facts
- South Carolina's 'Other Services' sector includes repair, personal care, and religious organizations.
- In 2022, the average weekly earnings in this sector were $744.
- This metric has grown by 3.5% annually over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the average weekly earnings of all employees in the 'Other Services' industry sector in South Carolina, which includes a range of service-based occupations.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into broader labor market conditions and consumer demand in the state's service economy, which is valuable for policymakers and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the health of South Carolina's service sector and make informed decisions about economic policy.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag, and may be subject to revisions.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Other Services in South Carolina (SMU45000008000000011), retrieved from FRED.