Durable Manufacturing Wages and Salaries in Alabama
ALWDUR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
14,870,032.00
Year-over-Year Change
23.17%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Durable Manufacturing Wages and Salaries in Alabama' trend measures the average hourly wages and salaries of workers in Alabama's durable goods manufacturing sector. This data is crucial for economists and policymakers to assess the state's manufacturing 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
This economic indicator tracks the average hourly compensation for production and non-supervisory employees in Alabama's durable goods manufacturing industries, such as machinery, electronics, and transportation equipment. It provides insights into labor costs and productivity in a key sector of the state's economy.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Current Employment Statistics survey of employers.
Historical Context
Trends in durable manufacturing wages are closely monitored by economists, investors, and policymakers to understand the state's business climate and competitiveness.
Key Facts
- Alabama's durable manufacturing sector employs over 250,000 workers.
- Durable manufacturing accounts for nearly one-fifth of Alabama's GDP.
- Wages in this sector have risen by 3.2% on average over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: The 'Durable Manufacturing Wages and Salaries in Alabama' indicator tracks the average hourly wages and salaries of production and non-supervisory workers in Alabama's durable goods manufacturing industries.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into labor costs and productivity in a key sector of Alabama's economy, which is closely monitored by economists, investors, and policymakers.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Current Employment Statistics survey of employers.
Q: How is this trend used in economic policy?
A: Trends in durable manufacturing wages are used by economists, policymakers, and businesses to assess Alabama's business climate, labor market conditions, and overall economic competitiveness.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical release lag of 1-2 months.
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Citation
U.S. Federal Reserve, Durable Manufacturing Wages and Salaries in Alabama (ALWDUR), retrieved from FRED.