Labor Compensation: Earnings: Manufacturing: Hourly for Sweden
LCEAMN01SEQ189N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
206.90
Year-over-Year Change
10.52%
Date Range
1/1/1971 - 7/1/2023
Summary
This economic trend measures hourly labor compensation in the manufacturing sector of Sweden, providing insights into productivity and wage dynamics.
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 Sweden metric tracks changes in average hourly earnings of manufacturing workers. It serves as an important indicator of labor market conditions and productivity.
Methodology
The data is collected through employer surveys and compiled by government statistical agencies.
Historical Context
Policymakers and economists closely monitor this trend to assess the health of the Swedish economy.
Key Facts
- Sweden is a major industrial economy.
- Manufacturing accounts for over 15% of Sweden'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, for workers in the manufacturing sector of Sweden.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into productivity, cost pressures, and wage dynamics within Sweden's manufacturing industry, which is a crucial component of the country's economy.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys and compiled by government statistical agencies in Sweden.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to assess the health of the Swedish labor market and the broader economy, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published on a regular schedule, but there may be some delays in reporting due to the time required for data collection and compilation.
Related Trends
Infra-Annual Labor Statistics: Monthly Unemployment Total: From 15 to 24 Years for Sweden
LFHU24TTSEM647S
Consumer Price Index: Harmonized Prices: Furnishings, Household Equipment and Routine Household Maintenance (COICOP 05): Total for Sweden
SWECPHP0500GPM
Infant Mortality Rate for Sweden
SPDYNIMRTINSWE
National Accounts: GDP by Expenditure: Constant Prices: Private Final Consumption Expenditure for Sweden
NAEXKP02SEQ189S
Infra-Annual Labor Statistics: Inactivity Rate Female: From 15 to 64 Years for Sweden
LRIN64FESEQ156S
Leading Indicators OECD: Reference series: Gross Domestic Product (GDP): Normalised for Sweden
SWELORSGPNOSTSAM
Citation
U.S. Federal Reserve, Labor Compensation: Earnings: Manufacturing: Hourly for Sweden (LCEAMN01SEQ189N), retrieved from FRED.