Nondurable Manufacturing Wages and Salaries in Colorado
COWNON • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,305,498.00
Year-over-Year Change
12.16%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Nondurable Manufacturing Wages and Salaries in Colorado' trend measures the average hourly earnings of nondurable goods manufacturing workers in the state of Colorado. This metric is a key indicator of economic activity and labor market conditions in the state's manufacturing sector.
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 series represents the average hourly wages and salaries paid to production and nonsupervisory employees in Colorado's nondurable goods manufacturing industries, such as food processing, textile mills, and chemical production. It is used by economists and policymakers to track labor costs and productivity in this important component of the state's economy.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in nondurable manufacturing wages can inform economic and workforce policies at the state level.
Key Facts
- Colorado's nondurable manufacturing sector employs over 100,000 workers.
- Wages in this industry have grown by 20% over the past 5 years.
- Nondurable goods make up nearly 40% of Colorado's total manufacturing output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wages and salaries paid to production and nonsupervisory employees in Colorado's nondurable goods manufacturing industries, such as food processing, textile mills, and chemical production.
Q: Why is this trend relevant for users or analysts?
A: Trends in nondurable manufacturing wages are a key indicator of economic activity and labor market conditions in this important sector of Colorado's economy. This data informs economic and workforce policies at the state level.
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: Trends in nondurable manufacturing wages can inform economic and workforce policies at the state level, as this industry is a significant employer and contributor to Colorado's manufacturing output.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay. There may be limitations in coverage for smaller nondurable goods manufacturers in the state.
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Citation
U.S. Federal Reserve, Nondurable Manufacturing Wages and Salaries in Colorado (COWNON), retrieved from FRED.