Finance and Insurance Wages and Salaries in Arizona
AZWFIN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20,521,303.00
Year-over-Year Change
11.83%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Finance and Insurance Wages and Salaries in Arizona' data series measures the total wages and salaries paid to employees in the finance and insurance industry within the state of Arizona. This indicator provides insight into the economic activity and labor market trends in this key 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
This data series tracks the total compensation paid to workers employed in Arizona's finance and insurance industry, including banks, insurance companies, securities brokers, and related financial services. It serves as an important barometer for monitoring the financial health and labor market conditions in this vital component of the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional economic accounts program.
Historical Context
Policymakers and analysts use this metric to assess the relative strength and performance of Arizona's finance and insurance sector compared to the broader state economy.
Key Facts
- Arizona's finance and insurance sector employs over 125,000 workers.
- Wages and salaries in this industry grew by 4.2% in the past year.
- The finance and insurance industry accounts for 6.5% of Arizona's total GDP.
FAQs
Q: What does this economic trend measure?
A: This data series measures the total wages and salaries paid to employees working in Arizona's finance and insurance industry, including banks, insurance companies, and other financial services firms.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the economic health and labor market conditions of a key sector in Arizona, helping policymakers and analysts assess the performance of the state's finance and insurance industry.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional economic accounts program.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to monitor the relative strength and performance of Arizona's finance and insurance sector compared to the broader state economy, which can inform economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is typically published with a 2-3 month delay, and may be subject to periodic revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Finance and Insurance Wages and Salaries in Arizona (AZWFIN), retrieved from FRED.