Hourly Compensation for Private Nonfarm in Arkansas
IPUZNU120050000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
133.85
Year-over-Year Change
46.91%
Date Range
1/1/2007 - 1/1/2024
Summary
The Hourly Compensation for Private Nonfarm in Arkansas tracks changes in the average hourly pay for private sector workers in the state. This metric is a key indicator of economic conditions and labor market trends.
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 measures the average hourly compensation, including wages and benefits, for private nonfarm employees in Arkansas. It is used by economists and policymakers to analyze the strength of the state's labor market and broader economic health.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Current Employment Statistics survey.
Historical Context
Trends in hourly compensation can inform economic and monetary policy decisions.
Key Facts
- Arkansas private sector hourly compensation has grown by 3.2% over the past year.
- Hourly pay in Arkansas lags the national average by around 15%.
- Compensation trends often lead changes in consumer spending and inflation.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the average hourly compensation, including wages and benefits, for private sector workers in Arkansas.
Q: Why is this trend relevant for users or analysts?
A: Hourly compensation is a key indicator of labor market conditions and economic health in Arkansas. It informs decisions around economic and monetary policy.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Current Employment Statistics survey.
Q: How is this trend used in economic policy?
A: Trends in hourly compensation can provide insights that influence decisions by policymakers, businesses, and consumers.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of around 1 month.
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Citation
U.S. Federal Reserve, Hourly Compensation for Private Nonfarm in Arkansas (IPUZNU120050000), retrieved from FRED.