Average Weekly Earnings of All Employees: Professional and Business Services in Wisconsin
SMU55000006000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,268.71
Year-over-Year Change
41.12%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Weekly Earnings of All Employees: Professional and Business Services in Wisconsin' measures the average weekly earnings for workers in the professional and business services sector in Wisconsin. This data provides insights into labor costs and productivity trends in this key 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
This series tracks the average weekly earnings for all employees, including both full-time and part-time workers, in the professional and business services industry in the state of Wisconsin. It is a useful indicator of wage growth and labor market conditions within this important economic sector.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is closely monitored by economists and policymakers to assess the health of the Wisconsin economy and guide decision-making.
Key Facts
- Professional and business services account for over 15% of Wisconsin's GDP.
- Earnings in this sector have grown by 3.2% annually over the past 5 years.
- Wisconsin ranks among the top 10 states for professional services employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings for all employees, both full-time and part-time, in the professional and business services sector in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into wage growth and labor market conditions within a key industry in the Wisconsin economy, which is valuable information for economists, policymakers, and businesses.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This metric is closely monitored by economists and policymakers to assess the health of the Wisconsin economy and guide decision-making on issues such as workforce development, taxation, and economic incentives.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical lag of one to two months from the reference period.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Professional and Business Services in Wisconsin (SMU55000006000000011A), retrieved from FRED.