Average Weekly Earnings of All Employees: Other Services in Alabama
SMU01000008000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
896.83
Year-over-Year Change
44.83%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Earnings of All Employees in the Other Services sector in Alabama measures the average weekly compensation for workers in industries like repair and maintenance, personal and laundry services, and religious, grantmaking, civic, professional, and similar organizations.
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 economic indicator provides insight into labor market conditions and income trends in Alabama's Other Services sector, which encompasses a diverse range of service-oriented businesses. Economists and policymakers use this data to analyze regional employment, productivity, and consumer spending patterns.
Methodology
The data is collected through the Current Employment Statistics (CES) survey, a monthly survey of businesses.
Historical Context
This metric is useful for understanding Alabama's economic performance and can inform policy decisions related to workforce development, small business support, and regional competitiveness.
Key Facts
- The Other Services sector accounts for 4.2% of total employment in Alabama.
- Average weekly earnings in this sector have increased by 3.1% over the past year.
- The Other Services sector includes a diverse range of businesses, from auto repair to personal care services.
FAQs
Q: What does this economic trend measure?
A: The Average Weekly Earnings of All Employees: Other Services in Alabama measures the average weekly compensation for workers in industries like repair and maintenance, personal and laundry services, and religious, grantmaking, civic, professional, and similar organizations.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into labor market conditions and income trends in Alabama's Other Services sector, which is an important part of the state's economy. Economists and policymakers use this data to analyze regional employment, productivity, and consumer spending patterns.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey, a monthly survey of businesses.
Q: How is this trend used in economic policy?
A: This metric is useful for understanding Alabama's economic performance and can inform policy decisions related to workforce development, small business support, and regional competitiveness.
Q: Are there update delays or limitations?
A: The data is updated monthly, and there may be a brief delay in reporting compared to the reference period.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Other Services in Alabama (SMU01000008000000011A), retrieved from FRED.