Other Services (Except Public Administration) Wages and Salaries in Alabama
ALWOTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,195,700.00
Year-over-Year Change
21.18%
Date Range
1/1/1998 - 1/1/2025
Summary
The Other Services (Except Public Administration) Wages and Salaries in Alabama trend measures the average wages and salaries paid to workers in Alabama's other services sector, excluding public administration. This metric is important for understanding labor market conditions and economic activity in the state.
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 (Except Public Administration) Wages and Salaries in Alabama data series tracks the total compensation paid to employees in industries like repair and maintenance, personal and laundry services, and religious, civic, and professional organizations. This provides insight into the financial well-being and spending power of workers in these service-oriented fields.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists monitor this trend to gauge the overall health of Alabama's service economy and consumer demand.
Key Facts
- Alabama's other services sector accounts for over 10% of the state's GDP.
- Wages in this sector have grown by an average of 3% annually over the past decade.
- The COVID-19 pandemic caused a temporary 6% decline in other services wages in Alabama in 2020.
FAQs
Q: What does this economic trend measure?
A: The Other Services (Except Public Administration) Wages and Salaries in Alabama trend measures the average compensation paid to workers in Alabama's service industries outside of public administration.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the financial health and spending power of a key segment of Alabama's workforce, which can inform assessments of the state's overall economic conditions and consumer demand.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to gauge the overall health of Alabama's service economy and make informed decisions about fiscal and monetary policies.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Other Services (Except Public Administration) Wages and Salaries in Alabama (ALWOTH), retrieved from FRED.