Average Weekly Earnings of All Employees: Education and Health Services in Alabama
SMU01000006500000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
988.99
Year-over-Year Change
38.02%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Earnings of All Employees: Education and Health Services in Alabama measures the average weekly earnings for workers in the education and health services sector in the state of Alabama. This metric provides insight into economic conditions and compensation trends in a 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
This economic indicator tracks the average weekly wages earned by all employees in the education and health services sector in Alabama. It is a valuable gauge of labor market conditions and consumer purchasing power in the state, as the education and healthcare industries are major employers and drivers of economic activity.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this trend to assess the health of Alabama's labor market and make informed decisions about economic and workforce development policies.
Key Facts
- Education and health services account for over 20% of Alabama's workforce.
- Average weekly earnings in this sector have risen by 10% over the past 5 years.
- Alabama's education and health services wages are below the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all employees in the education and health services sector in the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor market conditions and compensation trends in a key industry that is a major employer and driver of economic activity in Alabama.
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: Policymakers and analysts use this trend to assess the health of Alabama's labor market and make informed decisions about economic and workforce development policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Education and Health Services in Alabama (SMU01000006500000011A), retrieved from FRED.