Average Hourly Earnings of All Employees: Goods Producing in Nebraska
SMU31000000600000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31.70
Year-over-Year Change
57.95%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic trend measures the average hourly earnings of all employees in the goods-producing sector in Nebraska. It provides important insights into the state's labor market and cost of production.
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: Goods Producing in Nebraska tracks the typical hourly wage for workers in the state's manufacturing, construction, and mining industries. This metric is a key indicator of labor costs and can inform business investment, consumer spending, and policy decisions.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists monitor this trend to assess the broader health of Nebraska's economy and make informed decisions regarding employment, wages, and business conditions.
Key Facts
- Nebraska's goods-producing sector accounts for over 20% of the state's total employment.
- Hourly earnings in this sector have increased by 3.2% over the past year.
- Manufacturing is the largest component of Nebraska's goods-producing industries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of all employees in the goods-producing sector in the state of Nebraska, including manufacturing, construction, and mining industries.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor costs and employment conditions in Nebraska's key goods-producing industries, which are important for business investment, consumer spending, and policy decisions.
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 monitor this trend to assess the broader health of Nebraska's economy and make informed decisions regarding employment, wages, and business conditions.
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 Hourly Earnings of All Employees: Goods Producing in Nebraska (SMU31000000600000003A), retrieved from FRED.