Average Weekly Earnings of Production Employees: Manufacturing: Non-Durable Goods in Arizona
SMU04000003200000030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
914.98
Year-over-Year Change
50.13%
Date Range
1/1/2001 - 1/1/2024
Summary
This trend measures the average weekly earnings of production employees in the non-durable goods manufacturing sector in Arizona. It provides insights into labor compensation and productivity in this important economic segment.
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: Non-Durable Goods in Arizona tracks the average weekly earnings of workers directly involved in the production of non-durable goods, such as food, apparel, and paper products, within the manufacturing industry in the state of Arizona.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is used by economists and policymakers to analyze labor market trends and inform decisions on economic and workforce development policies.
Key Facts
- Arizona's non-durable goods manufacturing sector employs over 60,000 workers.
- Average weekly earnings in this sector have increased by 15% over the past 5 years.
- The non-durable goods industry accounts for nearly 25% of Arizona's total manufacturing output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of production employees in the non-durable goods manufacturing sector in Arizona, providing insights into labor compensation and productivity in this important industry.
Q: Why is this trend relevant for users or analysts?
A: This metric is relevant for economists, policymakers, and industry analysts as it offers insights into labor market conditions and trends within a key manufacturing segment of the Arizona economy.
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 used by policymakers and economists to analyze labor market conditions and inform decisions on economic and workforce development policies in Arizona's manufacturing sector.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical release lag of 2-3 weeks. There may be occasional revisions to previous months' data as more complete information becomes available.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of Production Employees: Manufacturing: Non-Durable Goods in Arizona (SMU04000003200000030A), retrieved from FRED.