Average Hourly Earnings of All Employees: Private Service Providing in Arkansas
SMU05000000800000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29.57
Year-over-Year Change
2.50%
Date Range
1/1/2007 - 7/1/2025
Summary
This economic indicator tracks the average hourly earnings of all private service-providing employees in Arkansas. It is a key measure of labor costs 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 Average Hourly Earnings of All Employees: Private Service Providing in Arkansas provides insight into the wages and compensation trends for workers in the private service sector. This data helps economists and policymakers assess the strength of the state's labor market and broader economic conditions.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is used to inform monetary and fiscal policy decisions at the state and national level.
Key Facts
- Arkansas is a major center for private service industries like healthcare and technology.
- Hourly earnings in the private service sector have risen steadily in recent years.
- This metric helps track the purchasing power and living standards of Arkansans.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the average hourly wages paid to private sector service workers in Arkansas, providing insight into labor costs and compensation trends.
Q: Why is this trend relevant for users or analysts?
A: The average hourly earnings data is a key indicator of the state's economic health and the living standards of Arkansans. It informs policy decisions at the state and national level.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This metric helps policymakers and economists assess labor market conditions and cost-of-living trends, which informs monetary, fiscal, and workforce development policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay. It may not fully capture all service sector earnings or recent changes in the labor market.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Private Service Providing in Arkansas (SMU05000000800000003), retrieved from FRED.