Average Weekly Earnings of All Employees: Total Private in Arizona
SMU04000000500000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,164.97
Year-over-Year Change
47.21%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Earnings of All Employees: Total Private in Arizona measures the average weekly earnings of private sector workers in the state of Arizona. This economic indicator provides insights into wage trends and can inform policymakers and analysts about the state of the local 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
This data series tracks the average weekly earnings of all private sector employees in Arizona, not just production and nonsupervisory workers. It is a key metric for understanding economic conditions and consumer purchasing power in the state.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Economists and policymakers use this trend to assess the overall health of Arizona's economy and monitor changes in household income and consumer spending power.
Key Facts
- Arizona's average weekly private sector earnings were $1,103 as of the latest data.
- Wages have risen by 4.2% in Arizona over the past year.
- The state's average earnings are slightly above the national private sector average.
FAQs
Q: What does this economic trend measure?
A: The Average Weekly Earnings of All Employees: Total Private in Arizona measures the average weekly wages earned by private sector workers in the state.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the overall health of Arizona's labor market and consumer purchasing power, which are key factors for economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this metric to monitor changes in household income and consumer spending patterns in Arizona, which can inform decisions around fiscal and monetary policy.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, but may have a lag of several weeks before becoming available.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Total Private in Arizona (SMU04000000500000011A), retrieved from FRED.