Average Weekly Earnings of All Employees: Education and Health Services in Arizona
SMU04000006500000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,200.56
Year-over-Year Change
51.09%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Weekly Earnings of All Employees: Education and Health Services in Arizona' trend measures average weekly pay for workers in the education and healthcare sectors in Arizona. This metric provides insight into labor market conditions and cost-of-living dynamics in a key service-oriented region.
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 data series tracks the average weekly earnings for all employees in the education and health services industries in the state of Arizona. It is used by economists and policymakers to analyze trends in labor compensation, which can inform decisions around minimum wage, tax policy, and workforce development initiatives.
Methodology
The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Tracking changes in average weekly earnings is important for understanding the broader economic health of a region and informing policy decisions.
Key Facts
- Arizona's education and health services sector employs over 500,000 workers.
- Average weekly earnings in this sector have risen by 20% over the past decade.
- Wages in the education and health services industry are typically higher than the state average.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the average weekly earnings for all employees in the education and health services industries in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: Tracking changes in average weekly earnings in this sector provides insight into labor market conditions and cost-of-living dynamics in a key service-oriented region.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Monitoring average weekly earnings is important for informing decisions around minimum wage, tax policy, and workforce development initiatives.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Education and Health Services in Arizona (SMU04000006500000011A), retrieved from FRED.