Hourly Earnings: Earnings: Economic Activity: Manufacturing: Total Economy for Czechia
LCEAMN01CZA661S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
166.63
Year-over-Year Change
80.15%
Date Range
1/1/1993 - 1/1/2024
Summary
The 'Hourly Earnings: Earnings: Economic Activity: Manufacturing: Total Economy for Czechia' trend measures average hourly wages in the Czech manufacturing sector. This is a key indicator of labor costs and economic conditions.
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 data series tracks the average hourly earnings of employees in the manufacturing industries across the Czech Republic. It provides insight into the costs of labor and overall economic activity within the Czech manufacturing sector.
Methodology
The data is collected through surveys of Czech businesses and compiled by national statistical agencies.
Historical Context
Policymakers and analysts use this metric to assess the health of the Czech manufacturing economy and labor market.
Key Facts
- Czechia is a major manufacturing hub in Central Europe.
- Manufacturing accounts for over a quarter of the Czech GDP.
- Average hourly wages in Czech manufacturing rose by 7.2% in 2022.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of employees in the manufacturing industries across the Czech Republic.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor costs and economic conditions within the important Czech manufacturing sector.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Czech businesses and compiled by national statistical agencies.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the health of the Czech manufacturing economy and labor market.
Q: Are there update delays or limitations?
A: There may be some time lags in data reporting and potential limitations in survey coverage.
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Citation
U.S. Federal Reserve, Hourly Earnings: Earnings: Economic Activity: Manufacturing: Total Economy for Czechia (LCEAMN01CZA661S), retrieved from FRED.