Average Weekly Earnings of All Employees: Education and Health Services in Utah
SMU49000006500000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
905.21
Year-over-Year Change
12.76%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Earnings of All Employees: Education and Health Services in Utah measures the average weekly earnings for workers in the education and health services sector in the state of Utah. This metric provides insight into the compensation levels and economic well-being of a key part of the state's workforce.
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 data series tracks the average weekly earnings for all employees in the education and health services industry in Utah. It is a key indicator of labor market conditions and compensation trends in important service-providing sectors of the state's economy.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists use this metric to assess the competitiveness and cost of labor in Utah's education and healthcare industries.
Key Facts
- Utah's education and health services sector employs over 260,000 people.
- Average weekly earnings in this sector have risen by 30% over the past decade.
- Compensation levels in Utah's education and health services are 5% below the national average.
FAQs
Q: What does this economic trend measure?
A: The Average Weekly Earnings of All Employees: Education and Health Services in Utah measures the average weekly pay for workers in the education and healthcare industries across the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor market conditions and compensation trends in key service-providing sectors of Utah's economy, which are important for understanding the state's economic performance and cost of living.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to assess the competitiveness and cost of labor in Utah's education and healthcare industries, which can inform workforce development, budgeting, and other economic policies.
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 as more information becomes available.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Education and Health Services in Utah (SMU49000006500000011A), retrieved from FRED.