Average Weekly Earnings of Production Employees: Manufacturing in Mississippi
SMU28000003000000030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
912.06
Year-over-Year Change
37.56%
Date Range
1/1/2005 - 1/1/2024
Summary
The 'Average Weekly Earnings of Production Employees: Manufacturing in Mississippi' trend measures the average weekly earnings of production workers in the manufacturing sector in Mississippi. This data provides insights into labor costs and economic conditions in the state's manufacturing industry.
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 weekly earnings for production employees in the manufacturing sector specifically within the state of Mississippi. It is a key metric used by economists and policymakers to monitor labor market trends and assess the overall health of the state's manufacturing industry.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely watched by economists, industry analysts, and state policymakers to inform economic and workforce development strategies.
Key Facts
- Manufacturing accounts for over 10% of Mississippi's GDP.
- Mississippi's manufacturing sector employs over 150,000 workers.
- Average weekly earnings in Mississippi's manufacturing industry have risen by 3.2% over the past year.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of production employees in the manufacturing sector within the state of Mississippi.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into labor costs and the overall health of Mississippi's manufacturing industry, which is a critical component of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to inform economic and workforce development strategies, as well as to monitor the competitiveness of Mississippi's manufacturing sector.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of Production Employees: Manufacturing in Mississippi (SMU28000003000000030A), retrieved from FRED.