Labor Compensation: Earnings: Manufacturing: Hourly for United States
LCEAMN01USA189S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25.06
Year-over-Year Change
34.71%
Date Range
1/1/1960 - 1/1/2022
Summary
The Hourly Earnings in Manufacturing trend measures the average hourly compensation of manufacturing workers in the United States. It is a key indicator of labor market conditions and trends in worker productivity.
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 tracks the average hourly wages and benefits paid to production and nonsupervisory employees in the U.S. manufacturing sector. It is used by economists, policymakers, and analysts to assess the overall health of the labor market and inform decisions around monetary and fiscal policy.
Methodology
The data is collected through monthly surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Monitoring this trend helps inform decisions around employment, inflation, and economic growth.
Key Facts
- The manufacturing sector accounts for over 12% of U.S. GDP.
- Hourly earnings in manufacturing have increased by 23% since 2010.
- Productivity growth in manufacturing has outpaced the overall economy.
FAQs
Q: What does this economic trend measure?
A: The Hourly Earnings in Manufacturing trend measures the average hourly compensation, including wages and benefits, paid to production and nonsupervisory employees in the U.S. manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of labor market conditions and worker productivity in the manufacturing industry, which is a critical component of the U.S. economy. It provides insights that inform decisions around employment, inflation, and economic growth.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Monitoring this trend helps policymakers, economists, and analysts assess the overall health of the labor market and make informed decisions around monetary and fiscal policy.
Q: Are there update delays or limitations?
A: The data is published monthly by the U.S. Bureau of Labor Statistics, with a typical release lag of around 4 weeks.
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Citation
U.S. Federal Reserve, Labor Compensation: Earnings: Manufacturing: Hourly for United States (LCEAMN01USA189S), retrieved from FRED.