Average Weekly Earnings of Production Employees: Financial Activities: Finance and Insurance in West Virginia
SMU54000005552000030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
872.82
Year-over-Year Change
51.38%
Date Range
1/1/2003 - 1/1/2024
Summary
This trend measures the average weekly earnings of production employees in the finance and insurance industry in West Virginia. It provides insight into compensation levels and trends in this important economic 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: Financial Activities: Finance and Insurance in West Virginia metric tracks the typical weekly pay for non-managerial workers in the finance and insurance industry located in West Virginia. This data point is useful for analyzing employment conditions and cost-of-living factors in the state.
Methodology
The data is collected through a monthly survey of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to gauge economic activity and wage trends in West Virginia's financial sector.
Key Facts
- This metric has been tracked by the U.S. government since 1939.
- The finance and insurance industry accounts for over 5% of employment in West Virginia.
- Wages in this sector are typically higher than the state's overall average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of production employees in the finance and insurance industry located in West Virginia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into compensation levels and trends within a key economic sector in West Virginia, which is useful for analyzing employment conditions and cost-of-living factors in the state.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of businesses 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 gauge economic activity and wage trends in West Virginia's financial 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: Financial Activities: Finance and Insurance in West Virginia (SMU54000005552000030A), retrieved from FRED.