State Minimum Wage Rate for Alaska
This dataset tracks state minimum wage rate for alaska over time.
Latest Value
11.91
Year-over-Year Change
53.68%
Date Range
1/1/1968 - 1/1/2025
Summary
The State Minimum Wage Rate for Alaska measures the minimum hourly wage that employers must pay workers in the state of Alaska. This data point is important for economists and policymakers analyzing labor market conditions and cost of living trends.
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 State Minimum Wage Rate for Alaska represents the legislated minimum hourly pay that must be provided to employees in the state, serving as a key benchmark for compensation and labor force dynamics. Tracking changes in the minimum wage rate offers insights into the state's economic climate and policies.
Methodology
The data is collected by the U.S. Department of Labor from state government records on minimum wage legislation and enforcement.
Historical Context
The minimum wage rate informs economic policy decisions and is closely monitored by market analysts, businesses, and workers.
Key Facts
- Alaska's current minimum wage is $10.34 per hour.
- The minimum wage in Alaska is adjusted annually for inflation.
- Alaska has one of the highest minimum wages among U.S. states.
FAQs
Q: What does this economic trend measure?
A: The State Minimum Wage Rate for Alaska measures the legislated minimum hourly pay that employers in the state must provide to their workers.
Q: Why is this trend relevant for users or analysts?
A: The minimum wage rate is a key indicator of labor market conditions and cost of living in Alaska, informing economic policy and business decisions.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Department of Labor from state government records on minimum wage legislation and enforcement.
Q: How is this trend used in economic policy?
A: The minimum wage rate is closely monitored by policymakers, businesses, and workers, as it informs decisions around labor market regulation and cost of living.
Q: Are there update delays or limitations?
A: The data is updated regularly by the Department of Labor to reflect the current legislated minimum wage in Alaska.
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Citation
U.S. Federal Reserve, State Minimum Wage Rate for Alaska (STTMINWGAK), retrieved from FRED.