Mining Wages and Salaries in Arizona
AZWMIN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,827,053.00
Year-over-Year Change
20.07%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Mining Wages and Salaries in Arizona' series tracks the average wages and salaries paid to workers in the mining industry within the state of Arizona. This metric is a key indicator of economic activity and labor market conditions in the mining 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
This series measures the average hourly and weekly wages, as well as total salaries, for employees in the mining industry across Arizona. It provides insight into compensation levels and trends for this important economic sector within the state.
Methodology
The data is collected through surveys of employers and compiled by the U.S. Bureau of Labor Statistics.
Historical Context
Mining wages and salaries are closely watched by policymakers, industry analysts, and investors to assess the health and outlook of Arizona's mining industry.
Key Facts
- Arizona is a major mining state, with significant production of copper, gold, and other minerals.
- Mining accounts for over 50,000 jobs in Arizona, or about 2% of the state's total employment.
- Wages in the Arizona mining sector tend to be higher than the statewide average across all industries.
FAQs
Q: What does this economic trend measure?
A: The 'Mining Wages and Salaries in Arizona' series tracks the average hourly and weekly wages, as well as total salaries, for employees working in the mining industry within the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into compensation levels and labor market conditions in Arizona's mining sector, which is a crucial part of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers in the mining industry and compiled by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Mining wages and salaries are closely watched by policymakers, industry analysts, and investors to assess the health and outlook of Arizona's mining industry, which has significant impacts on the state's overall economic performance.
Q: Are there update delays or limitations?
A: The data is typically updated on a monthly or quarterly basis, with some potential for delays in reporting. Users should be aware that the data may not capture the most recent developments in the mining labor market.
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Citation
U.S. Federal Reserve, Mining Wages and Salaries in Arizona (AZWMIN), retrieved from FRED.