Total Wages and Salaries in Alabama
ALWTOT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
140,609,015.00
Year-over-Year Change
18.76%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Total Wages and Salaries in Alabama' series measures the total amount of wages and salaries paid to workers in the state of Alabama. This metric is a key indicator of economic activity and labor market conditions.
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 tracks the total dollar value of wages and salaries earned by employees in Alabama. It serves as an important gauge of consumer spending power, income growth, and the overall health of the state's economy.
Methodology
The data is collected and reported by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and economists closely monitor this trend to assess Alabama's economic performance and guide policy decisions.
Key Facts
- Alabama's total wages and salaries exceeded $150 billion in 2021.
- The manufacturing sector accounts for the largest share of total wages in the state.
- Wage growth in Alabama has outpaced the national average in recent years.
FAQs
Q: What does this economic trend measure?
A: The 'Total Wages and Salaries in Alabama' series measures the total dollar value of wages and salaries paid to workers in the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of Alabama's economic activity and labor market conditions, providing insights into consumer spending power, income growth, and the overall health of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this trend to assess Alabama's economic performance and guide policy decisions related to employment, income, and economic growth.
Q: Are there update delays or limitations?
A: The data is typically published on a quarterly basis, with a lag of several months. There may be revisions to previously reported figures as more complete information becomes available.
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Citation
U.S. Federal Reserve, Total Wages and Salaries in Alabama (ALWTOT), retrieved from FRED.