Average Weekly Earnings of All Employees: Professional and Business Services in Alabama
SMU01000006000000011 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,375.95
Year-over-Year Change
4.54%
Date Range
1/1/2007 - 7/1/2025
Summary
This economic trend measures the average weekly earnings of all employees in the professional and business services sector in Alabama. It provides insight into wage growth and labor market conditions in this key industry.
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: Professional and Business Services in Alabama is an economic indicator that tracks the average weekly earnings of workers in the professional and business services industry across the state. It serves as a barometer for compensation trends and the overall health of the state's labor market in this important sector.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is widely used by economists, policymakers, and businesses to assess economic performance and make informed decisions.
Key Facts
- Alabama's professional and business services sector employs over 300,000 people.
- The average weekly earnings in this sector have increased by 15% over the past 5 years.
- This trend is a key indicator of the state's economic competitiveness and business climate.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all employees in the professional and business services sector in Alabama. It provides insight into wage growth and labor market conditions in this key industry.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used by economists, policymakers, and businesses to assess economic performance and make informed decisions about the state's labor market and business environment.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and economists to monitor labor market conditions, guide workforce development initiatives, and inform economic policy decisions.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Professional and Business Services in Alabama (SMU01000006000000011), retrieved from FRED.