Labor Compensation: Earnings: Manufacturing: National Accounts: Total for Canada
LCEAMN06CAM189S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,975,776,000.00
Year-over-Year Change
4.95%
Date Range
1/1/1961 - 9/1/2023
Summary
This economic trend measures total labor compensation in the manufacturing sector of Canada's national accounts. It is a key indicator of economic conditions 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: National Accounts: Total for Canada series tracks total employee compensation, including wages, salaries, and benefits, within the Canadian manufacturing industry. This metric provides insight into labor market dynamics and the health of the broader economy.
Methodology
The data is collected through national income and product accounts compiled by Statistics Canada.
Historical Context
This trend is closely monitored by policymakers, economists, and investors to assess the Canadian manufacturing sector's performance and its implications for the overall economy.
Key Facts
- Canada's manufacturing sector accounts for approximately 10% of its GDP.
- Manufacturing labor compensation has grown by an average of 2.5% annually over the past decade.
- The COVID-19 pandemic significantly impacted manufacturing employment and earnings in Canada.
FAQs
Q: What does this economic trend measure?
A: This trend measures total labor compensation, including wages, salaries, and benefits, within the Canadian manufacturing industry.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor market dynamics and the overall health of the Canadian economy, as the manufacturing sector is a key driver of economic activity.
Q: How is this data collected or calculated?
A: The data is collected through national income and product accounts compiled by Statistics Canada.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and investors closely monitor this trend to assess the performance of the Canadian manufacturing sector and its implications for the broader economy.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions and may have a short time lag before being published.
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Citation
U.S. Federal Reserve, Labor Compensation: Earnings: Manufacturing: National Accounts: Total for Canada (LCEAMN06CAM189S), retrieved from FRED.