Average Weekly Earnings of All Employees: Total Private in Alabama
SMU01000000500000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,045.51
Year-over-Year Change
43.70%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic trend measures the average weekly earnings of all private-sector employees in Alabama. It provides insight into wage levels and trends in the state's labor market.
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 Average Weekly Earnings of All Employees: Total Private in Alabama is a key indicator of economic conditions and worker compensation in the state. It tracks changes in the average weekly pay for private-sector jobs, which comprise the majority of Alabama's employment.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This earnings metric is closely monitored by policymakers, businesses, and analysts to assess the strength of Alabama's economy and cost-of-living pressures.
Key Facts
- Alabama's average weekly private-sector earnings were $932 as of the latest data.
- Earnings have risen by 3.8% over the past year in Alabama.
- The state's average weekly earnings are 12% below the national private-sector average.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the average weekly earnings for all private-sector employees in the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: The average weekly earnings metric provides insight into wage levels and trends in Alabama's labor market, which is crucial for understanding the state's economic conditions and cost-of-living.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This earnings indicator is closely monitored by policymakers, businesses, and analysts to assess the strength of Alabama's economy and cost-of-living pressures.
Q: Are there update delays or limitations?
A: The data is published monthly with a short lag, providing timely insight into Alabama's private-sector wage trends.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Total Private in Alabama (SMU01000000500000011A), retrieved from FRED.