Average Weekly Earnings of Production Employees: Retail Trade in Washington
SMU53000004200000030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
690.67
Year-over-Year Change
36.37%
Date Range
1/1/2001 - 1/1/2024
Summary
The Average Weekly Earnings of Production Employees: Retail Trade in Washington measures the average weekly wages paid to production workers in the retail trade sector of Washington state. This metric provides insight into labor costs and economic conditions in the region.
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 production workers in the retail trade industry within Washington state. It is a key measure of compensation trends and can be used to analyze workforce dynamics, cost pressures, and the broader health of the local economy.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to assess employment conditions and inflationary pressures in Washington's retail sector.
Key Facts
- Retail trade accounts for over 450,000 jobs in Washington state.
- The average weekly wage for retail production workers in Washington is $682.
- Wages in the state's retail sector have increased by 3.2% over the past year.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the average weekly earnings of production workers in the retail trade industry within Washington state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor costs and economic conditions in the retail sector, which is a key driver of Washington's economy.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this indicator to assess employment conditions and inflationary pressures in Washington's retail trade sector.
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 Weekly Earnings of Production Employees: Retail Trade in Washington (SMU53000004200000030A), retrieved from FRED.