Average Hourly Earnings of All Employees: Other Services in Arizona
SMU04000008000000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29.92
Year-over-Year Change
8.76%
Date Range
1/1/2007 - 6/1/2025
Summary
The Average Hourly Earnings of All Employees: Other Services in Arizona measures the average hourly wage for workers in the other services sector in Arizona. This metric provides insight into labor market conditions and cost pressures in the state's service 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 Other Services sector includes establishments engaged in activities such as equipment and machinery repairing, promoting or administering religious activities, grant-making, advocacy, and providing dry-cleaning and laundry services, personal care services, and pet care services. This data series is a key indicator for economists and policymakers analyzing the strength of Arizona's service industry and overall labor market.
Methodology
The data is collected through a monthly survey of businesses conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This statistic is closely watched by the Federal Reserve and other economic policymakers for signals on inflationary pressures and the health of the local Arizona economy.
Key Facts
- The average hourly wage for other services workers in Arizona was $21.55 as of the latest data.
- Wages in the other services sector have risen by 3.2% over the past year.
- Arizona's other services sector employs over 180,000 workers statewide.
FAQs
Q: What does this economic trend measure?
A: The Average Hourly Earnings of All Employees: Other Services in Arizona measures the average hourly wage paid to workers in the other services sector within the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into labor market conditions and cost pressures in Arizona's service economy, which is a key driver of the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of businesses conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This statistic is closely watched by the Federal Reserve and other economic policymakers for signals on inflationary pressures and the health of the local Arizona economy.
Q: Are there update delays or limitations?
A: The data is published with a one-month lag, so the most recent figures may not fully reflect the current labor market conditions.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Other Services in Arizona (SMU04000008000000003), retrieved from FRED.