Average Hourly Earnings of Production Employees: Retail Trade in Arizona
SMU04000004200000008 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21.04
Year-over-Year Change
4.99%
Date Range
1/1/2001 - 7/1/2025
Summary
This economic trend measures the average hourly earnings of production employees in the retail trade industry in Arizona. It provides insight into labor costs and compensation trends in this key sector of the state's economy.
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: Retail Trade in Arizona is a monthly economic indicator that tracks changes in the average hourly wage paid to production workers in the retail trade industry across the state. It is used by economists and policymakers to monitor labor market conditions and cost pressures.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is closely watched by analysts and policymakers to assess the health of Arizona's retail economy and inform decisions on economic policy, workforce development, and consumer trends.
Key Facts
- Arizona's retail trade industry employs over 300,000 workers.
- Hourly wages in this sector have risen by 15% over the past 5 years.
- Retail trade accounts for nearly 10% of Arizona's total employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of production employees in the retail trade industry across the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor costs and compensation trends in Arizona's retail sector, which is a key driver of the state's 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: Policymakers and analysts use this metric to assess the health of Arizona's retail economy and inform decisions on economic policy, workforce development, and consumer trends.
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 Production Employees: Retail Trade in Arizona (SMU04000004200000008), retrieved from FRED.