Total Wages and Salaries in Arizona
AZWTOT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
248,743,928.00
Year-over-Year Change
20.84%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Total Wages and Salaries in Arizona' trend measures the total amount of wages and salaries paid to employees in the state of Arizona. This metric is a key indicator of economic activity and consumer spending power.
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 data series represents the aggregate earnings of workers in Arizona, including both private and public sector employees. Economists and policymakers closely monitor trends in total wages and salaries as they provide insight into the overall health of the state's labor market and economy.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys of businesses and government agencies.
Historical Context
Changes in total wages and salaries are used to inform economic forecasting, fiscal policy decisions, and understanding of consumer demand trends.
Key Facts
- Arizona's total wages and salaries exceeded $290 billion in 2021.
- The trend has grown by over 30% in the past decade.
- Service-providing industries account for the largest share of total wages in Arizona.
FAQs
Q: What does this economic trend measure?
A: The 'Total Wages and Salaries in Arizona' metric measures the aggregate earnings of workers in the state, including both private and public sector employees.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insight into the overall health of Arizona's labor market and economy, which is crucial for economic forecasting, policy decisions, and understanding consumer demand.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys of businesses and government agencies.
Q: How is this trend used in economic policy?
A: Changes in total wages and salaries are used to inform economic forecasting, fiscal policy decisions, and understanding of consumer demand trends in Arizona.
Q: Are there update delays or limitations?
A: The data is typically released with a 2-3 month lag, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Total Wages and Salaries in Arizona (AZWTOT), retrieved from FRED.