Labor Compensation: Earnings: Manufacturing: Hourly for Austria
LCEAMN01ATQ659S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.50
Year-over-Year Change
-118.81%
Date Range
1/1/1956 - 10/1/2024
Summary
This trend measures hourly labor compensation in the manufacturing sector of Austria. It is a key indicator of economic conditions and productivity.
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 Labor Compensation: Earnings: Manufacturing: Hourly for Austria measures the average hourly compensation, including wages and benefits, paid to workers in the Austrian manufacturing industry. This data point is widely used by economists and policymakers to assess labor market dynamics and productivity.
Methodology
The data is collected through surveys of employers in the Austrian manufacturing sector.
Historical Context
This trend provides important insights into Austria's economic performance and competitiveness.
Key Facts
- Austria is a major manufacturing hub in Europe.
- Manufacturing accounts for over 20% of Austria's GDP.
- Hourly labor compensation has risen steadily in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly labor compensation, including wages and benefits, paid to workers in the Austrian manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into Austria's economic performance and competitiveness, as manufacturing is a critical component of the country's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers in the Austrian manufacturing sector.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this trend to assess labor market dynamics and productivity, which informs decisions on economic and labor policies.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Federal Reserve, with minimal update delays.
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Citation
U.S. Federal Reserve, Labor Compensation: Earnings: Manufacturing: Hourly for Austria (LCEAMN01ATQ659S), retrieved from FRED.