Average Weekly Earnings of Production Employees: Retail Trade in West Virginia
SMU54000004200000030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
511.02
Year-over-Year Change
33.50%
Date Range
1/1/2003 - 1/1/2024
Summary
This economic trend measures the average weekly earnings of production employees in the retail trade industry in West Virginia. It provides insights into labor costs and consumer spending patterns in the state's retail sector.
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 Weekly Earnings of Production Employees: Retail Trade in West Virginia series tracks the average weekly wages paid to production workers in the retail industry across the state. This metric is used by economists and policymakers to analyze trends in consumer demand, labor market conditions, and the overall health of the state's retail sector.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is relevant for understanding the economic performance and labor market dynamics in West Virginia's retail industry.
Key Facts
- The series has been tracked since 1990.
- West Virginia's retail trade sector employs over 100,000 workers.
- Wages in the state's retail industry are typically lower than the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of production employees in the retail trade industry in the state of West Virginia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor costs and consumer spending patterns in West Virginia's retail sector, which is an important indicator of the state's economic performance.
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: This trend is used by economists and policymakers to analyze trends in consumer demand, labor market conditions, and the overall health of West Virginia's retail industry.
Q: Are there update delays or limitations?
A: The data is typically published with a one-month lag and may be subject to revisions.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of Production Employees: Retail Trade in West Virginia (SMU54000004200000030A), retrieved from FRED.