Average Weekly Earnings of All Employees: Professional and Business Services in Arizona
SMU04000006000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,329.70
Year-over-Year Change
40.08%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Earnings of All Employees: Professional and Business Services in Arizona measures the average weekly earnings for employees in the professional and business services sector in the state of Arizona.
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
This economic trend provides insights into the wage levels and changes in the professional and business services industry in Arizona, which is an important sector for the state's economy. It helps analysts and policymakers understand labor market dynamics and cost pressures in this key industry.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is widely used by economists, businesses, and policymakers to inform decisions and monitor economic conditions.
Key Facts
- Arizona's professional and business services sector employs over 400,000 workers.
- Average weekly earnings in this sector have risen by 20% over the past decade.
- The professional and business services industry accounts for nearly 15% of Arizona's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly 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 important insights into wage levels and changes in a key industry for Arizona's economy, helping analysts and policymakers understand labor market dynamics and cost pressures.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, businesses, and policymakers to inform decisions and monitor economic conditions in Arizona.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, with a typical delay of one to two months.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Professional and Business Services in Arizona (SMU04000006000000011A), retrieved from FRED.