Hourly Earnings: Earnings: Economic Activity: Manufacturing: Total Economy for Canada
LCEAMN01CAA661N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
128.18
Year-over-Year Change
35.02%
Date Range
1/1/1955 - 1/1/2024
Summary
The Hourly Earnings: Earnings: Economic Activity: Manufacturing: Total Economy for Canada metric tracks the average hourly wage paid to manufacturing workers in Canada. This provides insight into labor costs and productivity trends in the Canadian 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 economic indicator represents the average hourly earnings of employees in the manufacturing industry across the Canadian economy. It is a key statistic used by economists and policymakers to analyze labor market conditions, production costs, and the overall health of the manufacturing sector.
Methodology
The data is collected through surveys of Canadian businesses and calculated as a weighted average of hourly wages.
Historical Context
Hourly earnings data helps inform monetary and fiscal policies aimed at supporting manufacturing competitiveness and economic growth.
Key Facts
- Canada's manufacturing sector accounts for 10% of GDP.
- Hourly wages in Canadian manufacturing have risen 2.5% annually on average over the past decade.
- Manufacturing is Canada's fourth-largest employer, providing jobs for over 1.7 million workers.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the average hourly wage paid to employees in the Canadian manufacturing industry across the entire economy.
Q: Why is this trend relevant for users or analysts?
A: Hourly earnings data for the manufacturing sector provides insights into labor costs, productivity, and the overall health of a key part of the Canadian economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Canadian businesses and calculated as a weighted average of hourly wages paid in the manufacturing industry.
Q: How is this trend used in economic policy?
A: Hourly earnings data helps inform monetary and fiscal policies aimed at supporting manufacturing competitiveness and broader economic growth in Canada.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately two months.
Related Trends
National Accounts: GDP by Expenditure: Current Prices: Gross Fixed Capital Formation for Canada
CANGFCFQDSMEI
Use of Financial Services, Assets: Outstanding Loans at Credit Unions and Financial Cooperatives for Canada
CANFCSODUXDC
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Education for Canada
CANCP100000CTGYM
Production, Sales, Work Started and Orders: Production Volume: Economic Activity: Construction for Canada
CANPROCONAISMEI
Outstanding Domestic Private Debt Securities to GDP for Canada
DDDM03CAA156NWDB
Barro-Lee: Population age 25+ with tertiary schooling. Total (Incomplete and Completed Tertiary) for Canada
BARTERICMP25UPZSCAN
Citation
U.S. Federal Reserve, Hourly Earnings: Earnings: Economic Activity: Manufacturing: Total Economy for Canada (LCEAMN01CAA661N), retrieved from FRED.