Average Hourly Earnings of All Employees: Education and Health Services: Private Education and Health Services in Utah
SMU49000006500000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
30.31
Year-over-Year Change
1.47%
Date Range
1/1/2007 - 6/1/2025
Summary
This trend measures the average hourly earnings of all employees in the education and health services sector, specifically private education and health services, in the state of Utah. It provides insights into the wage dynamics of this critical 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: Education and Health Services: Private Education and Health Services in Utah trend is a key economic indicator that tracks the average hourly compensation for workers in the private education and healthcare sectors within the state. It is used by policymakers, economists, and analysts to assess labor market conditions and wage growth in this important industry.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through employer surveys.
Historical Context
This trend is relevant for understanding the competitiveness of Utah's labor market and the economic well-being of workers in the education and health services sectors.
Key Facts
- Utah's private education and health services sector employs over 200,000 workers.
- Average hourly earnings in this sector have risen by 20% over the past decade.
- Wages in this industry are typically higher than the state's overall private sector average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of all employees in the private education and health services sector in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the wage dynamics of a critical industry, which is useful for policymakers, economists, and analysts assessing labor market conditions and economic well-being in Utah.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through employer surveys.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding the competitiveness of Utah's labor market and the economic well-being of workers in the education and health services sectors, which can inform policymaking decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Education and Health Services: Private Education and Health Services in Utah (SMU49000006500000003), retrieved from FRED.