Average Hourly Earnings of Production Employees: Manufacturing in Arizona
SMU04000003000000008 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
27.45
Year-over-Year Change
6.56%
Date Range
1/1/2001 - 6/1/2025
Summary
This economic trend measures the average hourly earnings of production employees in the manufacturing sector in the state of Arizona. It provides insight into wage levels and labor market dynamics within a key industry 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
The Average Hourly Earnings of Production Employees: Manufacturing in Arizona metric tracks the typical hourly compensation paid to workers involved in manufacturing activities in the state. It is a useful indicator of inflationary pressures, worker productivity, and the overall health of the manufacturing labor market.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by policymakers, businesses, and economists to understand economic conditions and guide decision-making.
Key Facts
- Arizona's manufacturing sector employs over 150,000 workers.
- Average hourly earnings in Arizona manufacturing have risen by 15% over the past 5 years.
- Manufacturing accounts for over 10% of Arizona's total economic output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of production employees in the manufacturing sector within the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into wage levels and labor market dynamics within a key industry in Arizona, which is useful for understanding inflationary pressures, worker productivity, and the overall health of the state's manufacturing sector.
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: This trend is closely monitored by policymakers, businesses, and economists to understand economic conditions and guide decision-making.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Manufacturing in Arizona (SMU04000003000000008), retrieved from FRED.