Average Hourly Earnings of All Employees: Trade, Transportation, and Utilities in Utah
SMU49000004000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31.24
Year-over-Year Change
41.87%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Hourly Earnings of All Employees: Trade, Transportation, and Utilities in Utah measures the average hourly wage paid to workers in these sectors within the state. This metric provides insight into labor market conditions and cost pressures facing businesses.
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 tracks the average hourly earnings of all employees working in the trade, transportation, and utilities sectors in Utah. It serves as an important economic indicator, reflecting broader employment and compensation trends within these critical industries.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to assess the health of Utah's economy and make informed decisions.
Key Facts
- This series dates back to 2007.
- Utah's trade, transportation, and utilities sectors employ over 320,000 workers.
- Hourly wages in these industries have risen by 25% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wage paid to employees working in the trade, transportation, and utilities sectors within the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor market conditions and cost pressures facing businesses in critical industries within the Utah economy.
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: Policymakers and analysts use this metric to assess the health of Utah's economy and make informed decisions.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with minimal delays.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Trade, Transportation, and Utilities in Utah (SMU49000004000000003A), retrieved from FRED.