State Minimum Wage Rate for Arkansas
STTMINWGAR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11.00
Year-over-Year Change
76.00%
Date Range
1/1/1970 - 1/1/2025
Summary
The State Minimum Wage Rate for Arkansas tracks the minimum hourly wage set by the state government, providing insight into labor market conditions and workers' 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 series represents the minimum hourly wage that employers in Arkansas must pay their workers. It is an important economic indicator used to analyze trends in labor costs, worker income, and the overall cost of living in the state.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through surveys of employers and state government records.
Historical Context
The state minimum wage rate is a key policy tool used by lawmakers to support low-income workers and manage economic conditions.
Key Facts
- Arkansas' minimum wage is currently $11.00 per hour.
- The state minimum wage was last increased in January 2022.
- Minimum wage is an important policy tool for supporting low-income workers.
FAQs
Q: What does this economic trend measure?
A: The State Minimum Wage Rate for Arkansas tracks the minimum hourly wage that employers in the state must pay their workers.
Q: Why is this trend relevant for users or analysts?
A: The state minimum wage rate is a key economic indicator used to analyze labor market conditions, worker income, and the overall cost of living in Arkansas.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through surveys of employers and state government records.
Q: How is this trend used in economic policy?
A: The state minimum wage rate is a policy tool used by lawmakers to support low-income workers and manage economic conditions in Arkansas.
Q: Are there update delays or limitations?
A: The data is updated regularly by the Bureau of Labor Statistics, but there may be occasional delays in reporting due to the time required for data collection and processing.
Related Trends
Citation
U.S. Federal Reserve, State Minimum Wage Rate for Arkansas (STTMINWGAR), retrieved from FRED.