Labor Compensation for Private Nonfarm in Arkansas
IPUZNU110050000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
145.72
Year-over-Year Change
70.18%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic trend measures labor compensation for private nonfarm businesses in Arkansas. It provides insights into wage and salary dynamics in the state's private 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 Labor Compensation for Private Nonfarm in Arkansas series tracks the total compensation, including wages and benefits, paid to employees in the state's private nonfarm businesses. It is a key indicator of economic activity and living standards.
Methodology
The data is collected through surveys of private employers in Arkansas.
Historical Context
This trend is used by economists and policymakers to analyze the state's economic performance and labor market conditions.
Key Facts
- Arkansas is a major manufacturing and agriculture hub in the South.
- Private nonfarm businesses account for over 80% of the state's GDP.
- Labor compensation has been growing steadily in Arkansas in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total compensation, including wages and benefits, paid to employees in private nonfarm businesses in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the state's labor market and economic conditions, which are important for businesses, policymakers, and consumers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private employers in Arkansas.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this trend to analyze the state's economic performance and labor market conditions, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is typically released with a delay of several weeks, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Labor Compensation for Private Nonfarm in Arkansas (IPUZNU110050000), retrieved from FRED.