Labor Compensation: Earnings: Manufacturing: Hourly for Canada
LCEAMN01CAA657S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.45
Year-over-Year Change
-15.44%
Date Range
1/1/1956 - 1/1/2024
Summary
This economic trend measures hourly labor compensation in the manufacturing sector of Canada. It provides insights into wage growth and production costs, which are key indicators for policymakers and businesses.
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 Canada measures the average hourly wages and benefits paid to manufacturing workers in the country. This metric is widely used to assess the overall health and competitiveness of the Canadian manufacturing industry.
Methodology
This data is collected through surveys of Canadian businesses and calculated by the national statistical agency.
Historical Context
Policymakers and economists monitor this trend to gauge inflationary pressures and the competitiveness of Canadian exports.
Key Facts
- Canada's manufacturing sector accounts for 10% of GDP.
- Hourly manufacturing wages have risen 3.2% annually over the past decade.
- Productivity growth has outpaced wage growth in Canadian manufacturing.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wages and benefits paid to workers in the manufacturing sector of Canada.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into production costs and wage growth, which are crucial indicators for assessing the competitiveness and overall health of the Canadian manufacturing industry.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Canadian businesses and calculated by the national statistical agency.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to gauge inflationary pressures and the competitiveness of Canadian exports.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
Related Trends
Nominal Imports of Goods and Services for Canada
NMSAXDCCAQ
Liquid Assets to Deposits and Short Term Funding for Canada
DDSI06CAA156NWDB
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Communication for Canada
CANCP080000CTGYM
Infra-Annual Labor Statistics: Employment Rate Total: From 25 to 54 Years for Canada
LREM25TTCAM156S
Stock Market Total Value Traded to GDP for Canada
DDDM02CAA156NWDB
Percentage of Foreign Bank Assets Among Total Bank Assets for Canada
DDOI14CAA156NWDB
Citation
U.S. Federal Reserve, Labor Compensation: Earnings: Manufacturing: Hourly for Canada (LCEAMN01CAA657S), retrieved from FRED.