Average Weekly Earnings of All Employees: Leisure and Hospitality in Illinois
Annual
SMU17000007000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
547.79
Year-over-Year Change
59.57%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the year-over-year change in total employment for the state of Alaska. It is a key indicator of economic growth and labor market conditions 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 Annual trend tracks the percent change in total nonfarm employment in Alaska compared to the same month of the previous year. It provides a broad measure of job creation and economic activity across various industries in the state.
Methodology
The data is collected through monthly surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Economists and policymakers use the Annual trend to assess the overall health of Alaska's economy and labor market.
Key Facts
- Alaska's Annual employment growth averaged 1.3% from 2010-2020.
- The Annual trend reached a low of -6.3% during the COVID-19 pandemic in 2020.
- Natural resources and tourism are major drivers of employment in Alaska.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year percent change in total nonfarm employment for the state of Alaska.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend is a key indicator of economic growth and labor market conditions in Alaska, which is useful for economists, policymakers, and businesses.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of business establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers use the Annual trend to assess the overall health of Alaska's economy and labor market, which informs policy decisions.
Q: Are there update delays or limitations?
A: The Annual trend data is published with a one-month lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Annual (SMU17000007000000011A), retrieved from FRED.