Finance and Insurance Wages and Salaries in Arkansas
ARWFIN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,950,688.00
Year-over-Year Change
15.44%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Finance and Insurance Wages and Salaries in Arkansas' series measures the total compensation paid to employees in the finance and insurance industry in the state of Arkansas. This data provides insight into the economic health and labor market conditions within a key sector of the state's economy.
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 economic series tracks the aggregate wages and salaries earned by workers in Arkansas's finance and insurance industry. It offers valuable information about employment levels, wage growth, and industry performance that can inform economic policymaking and business decision-making.
Methodology
The data is collected through surveys of businesses and establishments in Arkansas by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to gauge the strength of Arkansas's financial services sector and its contribution to overall state economic activity.
Key Facts
- Arkansas's finance and insurance wages totaled $4.2 billion in 2021.
- The sector accounts for over 5% of total employment in Arkansas.
- Wages in finance and insurance have grown 3.2% annually in Arkansas over the past decade.
FAQs
Q: What does this economic trend measure?
A: This series measures the total wages and salaries paid to employees in Arkansas's finance and insurance industry, providing insight into employment and compensation levels in this key sector.
Q: Why is this trend relevant for users or analysts?
A: This data offers valuable information about the performance and economic health of Arkansas's financial services sector, which is an important contributor to the state's overall economic activity.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments in Arkansas by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to gauge the strength of Arkansas's finance and insurance industry and its role in the state's economic development.
Q: Are there update delays or limitations?
A: The data is typically released with a 1-2 month lag and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Finance and Insurance Wages and Salaries in Arkansas (ARWFIN), retrieved from FRED.