Average Hourly Earnings of All Employees: Professional and Business Services in Arizona
SMU04000006000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36.43
Year-over-Year Change
39.31%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic trend measures the average hourly earnings of all employees in the professional and business services sector in Arizona. It provides valuable insights into the state's labor market and economic conditions.
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 All Employees: Professional and Business Services in Arizona is a key economic indicator that tracks the average hourly wages paid to workers in the professional and business services industry within the state. This metric is used by economists and policymakers to assess the overall strength and competitiveness of Arizona's labor market.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through regular surveys of employers.
Historical Context
This trend is closely monitored by economists, businesses, and policymakers to understand the dynamics of Arizona's labor market and inform economic decision-making.
Key Facts
- Arizona's professional and business services sector employs over 500,000 workers.
- Average hourly earnings in this sector have increased by 15% over the past decade.
- The professional and business services industry accounts for nearly 20% of Arizona's total employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of all employees in the professional and business services sector in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the labor market and economic conditions in Arizona, which is useful for businesses, policymakers, and economists.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through regular surveys of employers.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by economists and policymakers to understand the dynamics of Arizona's labor market and inform economic decision-making.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, with some potential for slight delays in reporting.
Related Trends
Gross Domestic Product: Private Goods-Producing Industries in Arizona
AZPRIGOODPRONGSP
Coefficient for Industrial Carbon Dioxide Emissions, Asphalt and Road Oil for Arizona
EMISSCO2CARICBAZA
Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Arizona
AZDURMANNQGSP
Number of State Member Commercial Banks in Arizona
X08CBMBSAZ
All Employees: Professional and Business Services: Employment Services in Arizona
SMU04000006056130001
Gross Domestic Product: Military in Arizona
AZGOVFEDMILNGSP
Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Professional and Business Services in Arizona (SMU04000006000000003A), retrieved from FRED.