Average Hourly Earnings of All Employees: Education and Health Services in Arizona
SMU04000006500000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
34.90
Year-over-Year Change
47.13%
Date Range
1/1/2007 - 1/1/2024
Summary
This series measures the average hourly earnings of all employees in the education and health services sector in Arizona. It provides important insights into labor market trends and compensation in these critical industries.
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 series tracks changes in the typical hourly wage paid to workers in Arizona's education and health services sector. This metric is widely used by economists and policymakers to analyze employment conditions, inflationary pressures, and the competitiveness of regional labor markets.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in average hourly earnings inform decisions around economic policy, workforce development, and industry competitiveness.
Key Facts
- Arizona's education and health services sector employs over 500,000 workers.
- Average hourly earnings in this sector have risen by 25% over the past decade.
- The education and health services industry accounts for 18% of Arizona's total employment.
FAQs
Q: What does this economic trend measure?
A: This series tracks the average hourly wage paid to workers in Arizona's education and health services sector, providing insights into labor market conditions in these important industries.
Q: Why is this trend relevant for users or analysts?
A: Trends in average hourly earnings are closely watched by economists, policymakers, and industry analysts to understand employment dynamics, inflationary pressures, and the competitiveness of regional labor markets.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Insights from this series inform decisions around workforce development, industry competitiveness, and economic policy at the state and regional level.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-month lag between the reference period and the release date.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Education and Health Services in Arizona (SMU04000006500000003A), retrieved from FRED.