Labor Compensation: Earnings: Manufacturing: Hourly for Slovak Republic
LCEAMN01SKM659S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.86
Year-over-Year Change
-19.87%
Date Range
1/1/1993 - 4/1/2025
Summary
This trend measures hourly labor compensation in the manufacturing sector of the Slovak Republic, providing insights into wage dynamics 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 Slovak Republic tracks the average hourly compensation paid to workers in the Slovak manufacturing industry, a key indicator of labor market conditions and overall economic performance.
Methodology
The data is collected through surveys of businesses and labor organizations by national statistical agencies.
Historical Context
This metric is closely monitored by policymakers and analysts to assess the competitiveness and productivity of the Slovak manufacturing sector.
Key Facts
- Slovakia's manufacturing sector accounts for over 20% of its GDP.
- Hourly labor compensation in Slovak manufacturing has grown by over 30% in the past decade.
- Wage trends in this sector are closely tied to the country's overall economic performance.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly compensation paid to workers in the manufacturing sector of the Slovak Republic, including wages and benefits.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the labor market and productivity dynamics of Slovakia's crucial manufacturing industry, which is a key driver of the country's economic growth.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and labor organizations by Slovakia's national statistical agencies.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor this metric to assess the competitiveness and productivity of the Slovak manufacturing sector, which informs decisions on economic, labor, and trade policies.
Q: Are there update delays or limitations?
A: There may be a lag of several months between the reference period and the data release, and the series may be subject to periodic revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Labor Compensation: Earnings: Manufacturing: Hourly for Slovak Republic (LCEAMN01SKM659S), retrieved from FRED.