Average Hourly Earnings of All Employees: Private Service Providing in Arizona
SMU04000000800000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
34.13
Year-over-Year Change
4.02%
Date Range
1/1/2007 - 6/1/2025
Summary
The Average Hourly Earnings of All Employees: Private Service Providing in Arizona measures the average hourly wage for private sector service workers in the state. This metric is a key indicator of labor market conditions and purchasing power.
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 series tracks the average hourly earnings of all private sector employees in Arizona's service-providing industries, which include sectors like trade, transportation, utilities, information, financial activities, professional services, education, and healthcare. It provides important insights into the state's labor market dynamics and cost of living.
Methodology
The data is collected through monthly surveys of private businesses by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by policymakers, businesses, and economists to gauge the state's economic performance and guide decisions.
Key Facts
- Arizona's private service sector employs over 1.6 million workers.
- Average hourly earnings in Arizona's private service industries have risen by 20% in the past decade.
- The service sector accounts for over 80% of Arizona's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wage for private sector service workers in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into Arizona's labor market conditions and cost of living, which are key factors for businesses, policymakers, and consumers.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of private businesses by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers, businesses, and economists to gauge the state's economic performance and guide 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 Hourly Earnings of All Employees: Private Service Providing in Arizona (SMU04000000800000003), retrieved from FRED.