Mining Wages and Salaries in Arkansas
ARWMIN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
265,543.00
Year-over-Year Change
7.45%
Date Range
1/1/1998 - 1/1/2025
Summary
This economic trend measures the average hourly wages and salaries paid to workers in the mining industry in the state of Arkansas. It provides insights into labor costs and economic activity in this critical sector.
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 Wages and Salaries in Arkansas metric tracks the average compensation for employees in the state's mining and extraction industries. This data point is closely monitored by economists and policymakers to understand labor market dynamics and cost pressures within a key component of the state's economy.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in mining wages can influence business investment, labor supply, and policy decisions related to energy, resources, and economic development.
Key Facts
- Arkansas is a major producer of natural gas, crude oil, and other minerals.
- Mining accounts for over 3% of the state's GDP.
- Wages in the Arkansas mining industry are typically higher than the state average.
FAQs
Q: What does this economic trend measure?
A: The Mining Wages and Salaries in Arkansas metric tracks the average hourly compensation for workers in the state's mining and extraction industries.
Q: Why is this trend relevant for users or analysts?
A: This data point provides insights into labor costs and economic activity within a critical sector of Arkansas' economy, informing business decisions, policy, and analysis.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in mining wages can influence business investment, labor supply, and policy decisions related to energy, resources, and economic development in Arkansas.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, but there may be lags in availability or revisions to prior estimates.
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Citation
U.S. Federal Reserve, Mining Wages and Salaries in Arkansas (ARWMIN), retrieved from FRED.