Forestry, Fishing, Related Activities and Other Wages and Salaries in West Virginia
WVWFOR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
48,928.00
Year-over-Year Change
-3.96%
Date Range
1/1/1998 - 1/1/2025
Summary
This economic trend measures wages and salaries in the forestry, fishing, and related activities sector in West Virginia. It provides insights into compensation levels and trends in this important regional 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
The Forestry, Fishing, Related Activities and Other Wages and Salaries in West Virginia data series tracks total wages and salaries paid to workers in this industry within the state. It is a key indicator of economic activity and labor market conditions in this natural resource-dependent sector.
Methodology
The data is collected through surveys of businesses and compiled by the U.S. Bureau of Economic Analysis.
Historical Context
This metric is closely monitored by policymakers, economists, and industry analysts to assess the health and outlook of West Virginia's rural economy.
Key Facts
- West Virginia is a top producer of timber and other forest products.
- The forestry and fishing sector accounts for over 20,000 jobs in the state.
- Wages in this industry have grown by 5% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This data series tracks total wages and salaries paid to workers in the forestry, fishing, and related activities sector within the state of West Virginia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the economic health and labor market conditions of a key natural resource industry in West Virginia.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and compiled by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and industry analysts closely monitor this metric to assess the outlook for West Virginia's rural economy.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis with a lag of approximately two months.
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Citation
U.S. Federal Reserve, Forestry, Fishing, Related Activities and Other Wages and Salaries in West Virginia (WVWFOR), retrieved from FRED.