Weekly Earnings: Manufacturing for Australia
LCEAMN02AUQ661N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
121.84
Year-over-Year Change
15.69%
Date Range
10/1/1983 - 4/1/2018
Summary
The Weekly Earnings: Manufacturing for Australia measures the average weekly earnings of manufacturing workers in Australia. This metric is a key indicator of economic conditions and worker purchasing power.
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 series represents the average weekly earnings, including overtime, of all employees in the Australian manufacturing industry. It is a widely tracked statistic that provides insight into wage trends and can inform policy decisions around employment, inflation, and living standards.
Methodology
The data is collected through surveys of Australian employers and calculated as a weekly average.
Historical Context
Policy analysts and economists use this metric to assess the health of the Australian manufacturing sector and broader economy.
Key Facts
- Manufacturing accounts for over 6% of Australian GDP.
- Average weekly earnings in manufacturing have risen by 15% over the past decade.
- Manufacturing is the fourth-largest employer in Australia.
FAQs
Q: What does this economic trend measure?
A: The Weekly Earnings: Manufacturing for Australia measures the average weekly earnings, including overtime, of all employees in the Australian manufacturing industry.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into wage trends in the manufacturing sector, which is a key driver of the Australian economy. It informs analysis of employment, inflation, and living standards.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Australian employers and calculated as a weekly average.
Q: How is this trend used in economic policy?
A: Policy analysts and economists use this metric to assess the health of the Australian manufacturing sector and broader economy, which can inform decisions around employment, wages, and industrial policy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Weekly Earnings: Manufacturing for Australia (LCEAMN02AUQ661N), retrieved from FRED.