Average Weekly Earnings of All Employees: Goods Producing in Alabama
SMU01000000600000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,251.91
Year-over-Year Change
36.45%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic trend measures the average weekly earnings of all employees in the goods-producing sector in the state of Alabama. It provides insight into the income and purchasing power of workers in Alabama's manufacturing, mining, and construction industries.
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: Goods Producing in Alabama is a key indicator of economic activity and labor market conditions in the state. It tracks the weekly wages earned by workers in the goods-producing industries, which are vital contributors to Alabama's economy.
Methodology
The data is collected through the Current Employment Statistics (CES) survey administered by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by policymakers, analysts, and businesses to understand the strength of Alabama's labor market and inform economic decision-making.
Key Facts
- Alabama is a major manufacturing hub in the Southeast U.S.
- Goods-producing industries account for a significant portion of the state's GDP.
- Wages in Alabama's goods-producing sector have seen steady growth in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all employees in the goods-producing sector, which includes manufacturing, mining, and construction industries, in the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the income and purchasing power of workers in Alabama's key goods-producing industries, which are vital to the state's economy. It is closely monitored by policymakers, economists, and businesses to understand labor market conditions.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey administered by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, analysts, and businesses to assess the strength of Alabama's labor market and inform economic decision-making, such as investment, hiring, and policy decisions.
Q: Are there update delays or limitations?
A: The data is released monthly by the U.S. Bureau of Labor Statistics, with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Goods Producing in Alabama (SMU01000000600000011A), retrieved from FRED.