Average Weekly Earnings of All Employees: Private Service Providing in Arizona
SMU04000000800000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,116.09
Year-over-Year Change
44.91%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Weekly Earnings of All Employees: Private Service Providing in Arizona' series measures the average weekly earnings of private-sector service workers in Arizona. This metric is a key indicator of economic conditions and consumer purchasing power in the state.
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 employees in the private service-providing sector in Arizona. It provides insights into the income and spending power of a large portion of the state's workforce, which can inform economic analysis and policy decisions.
Methodology
The data is collected through surveys of private employers in Arizona by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is used by economists, policymakers, and market analysts to assess the strength of consumer demand and the overall health of Arizona's service-based economy.
Key Facts
- Arizona's private service sector accounts for over 75% of the state's workforce.
- Average weekly earnings have risen by over 15% in the past decade.
- This metric tends to correlate closely with consumer spending patterns in Arizona.
FAQs
Q: What does this economic trend measure?
A: This series tracks the average weekly earnings of all employees in the private service-providing sector in Arizona, providing insights into worker incomes and consumer purchasing power.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of economic conditions and consumer demand in Arizona, informing analysis and policy decisions by economists, policymakers, and market participants.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private employers in Arizona by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess the strength of Arizona's service-based economy and consumer spending patterns, which can inform economic policies and market strategies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Private Service Providing in Arizona (SMU04000000800000011A), retrieved from FRED.