Arts, Entertainment and Recreation Wages and Salaries in Arizona
AZWART • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,390,723.00
Year-over-Year Change
60.07%
Date Range
1/1/1998 - 1/1/2025
Summary
This series measures the average wages and salaries for workers in the arts, entertainment, and recreation industry in Arizona. It provides insights into compensation trends in a key service 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
The Arts, Entertainment and Recreation Wages and Salaries in Arizona series tracks the average hourly and weekly earnings of employees in this industry group across the state. It is a useful indicator of economic conditions and labor market dynamics in a major component of Arizona's services-based economy.
Methodology
The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and industry analysts monitor this metric to gauge the health and competitiveness of Arizona's leisure and hospitality sector.
Key Facts
- Arizona's arts and entertainment wages have risen over 20% in the past decade.
- This industry accounts for over 200,000 jobs in the state.
- Wages in this sector tend to be lower than the statewide average.
FAQs
Q: What does this economic trend measure?
A: This series tracks the average hourly and weekly wages paid to workers in the arts, entertainment, and recreation industry in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: It provides insights into compensation levels and trends in a key service sector of Arizona's economy, which is important for understanding labor market dynamics and the competitiveness of the state's leisure and hospitality industry.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts monitor this metric to gauge the health and competitiveness of Arizona's arts, entertainment, and recreation sector, which is an important part of the state's services-based economy.
Q: Are there update delays or limitations?
A: There may be lags of several months between the reference period and the data release, and the survey-based methodology can be subject to sampling and non-sampling errors.
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Citation
U.S. Federal Reserve, Arts, Entertainment and Recreation Wages and Salaries in Arizona (AZWART), retrieved from FRED.