Average Hourly Earnings of All Employees: Goods Producing in Arizona
SMU04000000600000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
35.28
Year-over-Year Change
47.99%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic trend measures the average hourly earnings of all employees in the goods-producing sector in Arizona. It provides insights into the compensation levels in the state'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 Hourly Earnings of All Employees: Goods Producing in Arizona is a key economic indicator that tracks the average hourly wage paid to workers in the state's goods-producing industries. It is used by economists and policymakers to monitor labor market trends and assess the relative strength of different sectors of the economy.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is widely used by analysts to evaluate the competitiveness of Arizona's goods-producing industries and to inform policy decisions related to economic development and workforce training.
Key Facts
- Arizona's goods-producing sector employs over 300,000 workers.
- The average hourly wage in this sector is $27.50 as of the latest data.
- Manufacturing accounts for the largest share of goods-producing employment in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of all employees in the goods-producing sector in the state of Arizona, including manufacturing, mining, and construction industries.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the compensation levels and labor market conditions in Arizona's core goods-producing industries, which are crucial for the state's economic performance and competitiveness.
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: Policymakers and analysts use this trend to evaluate the competitiveness of Arizona's goods-producing industries and to inform decisions related to economic development, workforce training, and other policy initiatives.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical release lag of around one month.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Goods Producing in Arizona (SMU04000000600000003A), retrieved from FRED.