Mining Wages and Salaries in Alabama
ALWMIN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
574,205.00
Year-over-Year Change
18.47%
Date Range
1/1/1998 - 1/1/2025
Summary
The Mining Wages and Salaries in Alabama trend measures the average hourly and weekly earnings of production and nonsupervisory employees in the mining industry within Alabama. This data provides insights into the labor market and compensation levels in a critical economic sector.
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 Mining Wages and Salaries in Alabama series tracks the nominal wages and salaries of mining industry workers in the state. This metric is used by economists and policymakers to analyze labor market dynamics, assess cost pressures, and understand regional economic conditions within the mining sector.
Methodology
The data is collected through surveys of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This information is relevant for assessing the economic health and competitiveness of Alabama's mining industry.
Key Facts
- Mining is a major industry in Alabama, contributing significantly to the state's economy.
- Wages in the mining sector are typically higher than the state average.
- Trends in mining wages can signal changes in labor demand and cost pressures.
FAQs
Q: What does this economic trend measure?
A: The Mining Wages and Salaries in Alabama trend measures the average hourly and weekly earnings of production and nonsupervisory employees in the mining industry within the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor market dynamics, cost pressures, and regional economic conditions within Alabama's critical mining sector.
Q: How is this data collected or calculated?
A: The data is collected through surveys of establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this information to assess the health and competitiveness of Alabama's mining industry, which is a key contributor to the state's economy.
Q: Are there update delays or limitations?
A: The data is subject to the timeliness and accuracy of the underlying surveys conducted by the Bureau of Labor Statistics.
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Citation
U.S. Federal Reserve, Mining Wages and Salaries in Alabama (ALWMIN), retrieved from FRED.