Hourly Compensation for Manufacturing: Fiber, Yarn, and Thread Mills (NAICS 3131) in the United States
IPUEN3131U120000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
126.83
Year-over-Year Change
18.11%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures hourly compensation, including wages and benefits, for workers in the fiber, yarn, and thread mills industry in the United States. It provides insights into labor costs and productivity in this important 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
The Hourly Compensation for Manufacturing: Fiber, Yarn, and Thread Mills (NAICS 3131) in the United States series tracks total compensation per hour, including wages and benefits, for production and nonsupervisory employees in this manufacturing industry. It serves as a key indicator of labor market conditions and cost pressures within this specific manufacturing segment.
Methodology
The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is closely monitored by policymakers, economists, and industry analysts to assess economic conditions and competitiveness in the U.S. textile manufacturing industry.
Key Facts
- The fiber, yarn, and thread mills industry is a key part of the U.S. textile manufacturing sector.
- Hourly compensation in this industry has risen by 15% over the past decade.
- Tracking labor costs helps assess the industry's international competitiveness.
FAQs
Q: What does this economic trend measure?
A: This trend measures hourly compensation, including wages and benefits, for production and nonsupervisory employees in the fiber, yarn, and thread mills industry (NAICS 3131) in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor market conditions and cost pressures within this key manufacturing sector, which is important for assessing the industry's competitiveness and economic performance.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and industry analysts closely monitor this metric to assess economic conditions and competitiveness in the U.S. textile manufacturing industry.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, but there can be a several-month delay in publication.
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Citation
U.S. Federal Reserve, Hourly Compensation for Manufacturing: Fiber, Yarn, and Thread Mills (NAICS 3131) in the United States (IPUEN3131U120000000), retrieved from FRED.