Mining Earnings in West Virginia
WVEMIN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,818,127.00
Year-over-Year Change
10.55%
Date Range
1/1/1998 - 1/1/2025
Summary
The Mining Earnings in West Virginia trend measures the average weekly earnings of workers in the mining industry within the state of West Virginia. This data is crucial for economists and policymakers to understand the economic conditions and labor market dynamics in the mining-dependent regions of the state.
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 Mining Earnings in West Virginia series provides insights into the compensation levels and earning power of workers employed in the mining sector, which is a significant driver of the state's economy. This metric helps analyze industry-specific wage trends and their implications for the broader economic landscape.
Methodology
The data is collected and calculated by the U.S. Bureau of Labor Statistics through surveys of employers in the mining industry within West Virginia.
Historical Context
Mining earnings data is used by policymakers, labor market analysts, and industry stakeholders to inform economic policies, workforce development initiatives, and business strategies.
Key Facts
- Mining is a major industry in West Virginia, employing over 20,000 workers.
- Average weekly mining earnings in West Virginia are typically higher than the national average.
- Mining earnings in West Virginia have fluctuated due to changes in commodity prices and industry activity.
FAQs
Q: What does this economic trend measure?
A: The Mining Earnings in West Virginia trend measures the average weekly earnings of workers employed in the mining industry within the state of West Virginia.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the compensation levels and earning power of workers in the mining sector, which is a crucial driver of West Virginia's economy. It helps analysts and policymakers understand industry-specific wage dynamics and their implications for the broader economic landscape.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Labor Statistics through surveys of employers in the mining industry within West Virginia.
Q: How is this trend used in economic policy?
A: Mining earnings data is used by policymakers, labor market analysts, and industry stakeholders to inform economic policies, workforce development initiatives, and business strategies in the state of West Virginia.
Q: Are there update delays or limitations?
A: The Mining Earnings in West Virginia data is typically published on a monthly basis, with some potential for slight delays in the release of the latest figures.
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Citation
U.S. Federal Reserve, Mining Earnings in West Virginia (WVEMIN), retrieved from FRED.