Labour Compensation: Earnings: Manufacturing: Hourly for G7
G7LCEAMN01GPSAM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.74
Year-over-Year Change
170.90%
Date Range
2/1/1964 - 3/1/2025
Summary
The Labour Compensation: Earnings: Manufacturing: Hourly for G7 measures the average hourly wages of manufacturing workers across the G7 nations. This key indicator provides insight into productivity, labor market dynamics, and inflationary pressures.
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 tracks the average hourly earnings of production and nonsupervisory employees in the manufacturing sector for the G7 countries. It is a widely-used gauge of labor costs and a leading indicator of economic performance and inflation trends.
Methodology
The data is collected through surveys of businesses and labor organizations in the G7 member states.
Historical Context
Policymakers and analysts monitor this metric to assess the health of the manufacturing industry and broader economic conditions.
Key Facts
- The G7 countries are Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.
- Manufacturing accounts for around 15-20% of GDP across the G7 economies.
- Hourly wages in G7 manufacturing have risen by over 50% since 2000.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the average hourly compensation for production and nonsupervisory employees in the manufacturing sectors of the G7 economies.
Q: Why is this trend relevant for users or analysts?
A: Manufacturing wages are a key indicator of productivity, labor market conditions, and inflationary pressures, making this metric highly relevant for policymakers and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected through national business and labor surveys in the G7 member states.
Q: How is this trend used in economic policy?
A: Policymakers and central banks monitor this metric to gauge the health of the manufacturing sector and broader economic conditions, informing monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately 2-3 months.
Related Trends
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Production: Manufacturing: Total manufacturing: Total manufacturing for G7
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Balance of Payments: Capital Account: Revenue for G7
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Infra-Annual Labor Statistics: Employment Female: From 55 to 64 Years for G7
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International Merchandise Trade Statistics: Trade Balance: Commodities for G7
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Infra-Annual Labor Statistics: Employment Male: From 15 to 24 Years for G7
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Citation
U.S. Federal Reserve, Labour Compensation: Earnings: Manufacturing: Hourly for G7 (G7LCEAMN01GPSAM), retrieved from FRED.