Other Labor Income in Utah
UTOOTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
27,067.20
Year-over-Year Change
22.29%
Date Range
1/1/1948 - 1/1/2025
Summary
Other Labor Income in Utah measures supplementary income earned by workers in addition to their regular wages and salaries. It is an important indicator of the overall health and vitality of the state's labor market.
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
Other Labor Income represents income from sources such as employer contributions to pension and insurance funds, bonuses, tips, and commissions. It provides insight into the level of benefits and additional compensation received by Utah workers beyond their base pay.
Methodology
The data is collected through surveys of employers and households by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use this metric to gauge the strength of the Utah labor market and the financial well-being of workers.
Key Facts
- Other Labor Income in Utah reached a record high of $13.2 billion in 2021.
- The share of total compensation comprised by Other Labor Income has risen from 15% in 2010 to 17% in 2021.
- Utah's Other Labor Income growth has outpaced the national average in recent years.
FAQs
Q: What does this economic trend measure?
A: Other Labor Income in Utah measures supplementary income earned by workers beyond their regular wages and salaries, such as employer contributions, bonuses, and commissions.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the overall compensation and financial well-being of Utah workers, which is an important indicator of the state's labor market health and economic performance.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers and households by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to gauge the strength of the Utah labor market and the financial status of workers, which informs decisions around employment, taxation, and economic development policies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Other Labor Income in Utah (UTOOTH), retrieved from FRED.