Average Weekly Earnings of All Employees: Goods Producing in Arkansas
SMU05000000600000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,115.55
Year-over-Year Change
47.11%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Earnings of All Employees: Goods Producing in Arkansas measures the average weekly wages paid to workers in the goods-producing sector in the state of Arkansas. This metric is a key indicator of economic conditions and worker purchasing power.
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 across Arkansas' goods-producing industries, which include manufacturing, construction, and mining. It provides insight into the compensation levels and spending power of the state's production workforce, a vital component of the local economy.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to gauge the financial well-being of Arkansas workers and the broader health of the state's goods production sector.
Key Facts
- Arkansas' goods-producing sector employs over 250,000 workers.
- Average weekly earnings in this sector have increased by 25% in the past decade.
- Wages for goods-producing jobs are typically higher than the state's overall average.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the average weekly earnings for all employees across Arkansas' goods-producing industries, including manufacturing, construction, and mining.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the compensation levels and spending power of the state's production workforce, a vital component of the local economy.
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: Policymakers and analysts use this metric to gauge the financial well-being of Arkansas workers and the broader health of the state's goods production sector.
Q: Are there update delays or limitations?
A: The data is reported on a monthly basis with a typical 2-3 week delay from the end of the reference period.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Goods Producing in Arkansas (SMU05000000600000011A), retrieved from FRED.