Average Weekly Earnings of Production Employees: Manufacturing: Durable Goods in Arizona
SMU04000003100000030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,134.86
Year-over-Year Change
44.10%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic trend measures the average weekly earnings of production employees in the durable goods manufacturing sector in Arizona. It provides insights into labor market conditions and wage growth within a key industry.
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 Weekly Earnings of Production Employees: Manufacturing: Durable Goods in Arizona metric tracks the average weekly compensation for hourly workers in the durable goods manufacturing industry in the state. This data series is used by economists and policymakers to analyze labor market dynamics and assess the health of the state's manufacturing sector.
Methodology
The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
This trend offers insights relevant for economic and workforce development policies.
Key Facts
- Arizona's durable goods manufacturing sector employs over 150,000 workers.
- Average weekly earnings in this industry have increased by 20% over the past decade.
- Durable goods manufacturing accounts for nearly 10% of Arizona's total economic output.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average weekly earnings of production employees working in the durable goods manufacturing sector in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into labor market conditions and wage growth within a key industry, which is useful for economic and workforce development analysis.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend offers insights relevant for economic and workforce development policies targeting the manufacturing sector in Arizona.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical 1-2 month release lag.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of Production Employees: Manufacturing: Durable Goods in Arizona (SMU04000003100000030A), retrieved from FRED.