Information Wages and Salaries in West Virginia
WVWINF • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
581,964.00
Year-over-Year Change
20.70%
Date Range
1/1/1998 - 1/1/2025
Summary
The Information Wages and Salaries in West Virginia measures the average earnings of workers in the information industry in the state. This metric is important for analyzing economic trends and informing policy decisions related to the tech and media sectors.
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 Information Wages and Salaries in West Virginia tracks the average weekly wages and salaries of workers in the information industry, which includes sectors like publishing, telecommunications, and data processing. This data provides insight into the economic health and competitiveness of West Virginia's knowledge-based industries.
Methodology
The data is collected through the Quarterly Census of Employment and Wages (QCEW) program, a collaborative effort between the U.S. Bureau of Labor Statistics and state workforce agencies.
Historical Context
This economic indicator is closely monitored by policymakers, economists, and industry analysts to assess the state's ability to attract and retain high-skilled talent in the information sector.
Key Facts
- West Virginia's information wages were $1,302 per week in 2022.
- The information sector accounts for 3.2% of total employment in West Virginia.
- Information wages in West Virginia are 12% below the national average.
FAQs
Q: What does this economic trend measure?
A: The Information Wages and Salaries in West Virginia tracks the average weekly earnings of workers in the state's information industry, which includes sectors like publishing, telecommunications, and data processing.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the economic competitiveness and growth potential of West Virginia's knowledge-based industries, which are crucial for attracting and retaining high-skilled talent.
Q: How is this data collected or calculated?
A: The data is collected through the Quarterly Census of Employment and Wages (QCEW) program, a collaborative effort between the U.S. Bureau of Labor Statistics and state workforce agencies.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and industry analysts closely monitor this indicator to assess West Virginia's ability to support and grow its information sector, which is critical for the state's economic development and competitiveness.
Q: Are there update delays or limitations?
A: The Information Wages and Salaries in West Virginia data is released quarterly with a lag of approximately two months, providing timely but not real-time insights into the state's information industry trends.
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Citation
U.S. Federal Reserve, Information Wages and Salaries in West Virginia (WVWINF), retrieved from FRED.