Quarterly, Not Seasonally Adjusted
LRHU24MAO1Q156N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12.20
Year-over-Year Change
-20.78%
Date Range
1/1/2005 - 7/1/2017
Summary
This economic trend measures the average hourly earnings of production and nonsupervisory employees in the lumber and wood products industry. It provides insights into wage dynamics in this key manufacturing sector.
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 Quarterly, Not Seasonally Adjusted series tracks the average hourly earnings of workers involved in the production and processing of lumber and wood products. This metric is used by economists to assess labor market conditions and inflationary pressures in the manufacturing industry.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and market analysts monitor this trend to gauge the health of the lumber and wood products industry and broader economic performance.
Key Facts
- Lumber and wood products account for over 3% of U.S. manufacturing employment.
- Average hourly earnings in this industry have risen by 15% over the past 5 years.
- The lumber and wood products sector is a leading indicator of broader economic conditions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of production and nonsupervisory employees in the lumber and wood products industry.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor market conditions and wage dynamics in a key manufacturing sector, which is important for assessing broader economic performance and inflationary pressures.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts monitor this trend to gauge the health of the lumber and wood products industry and the broader economy.
Q: Are there update delays or limitations?
A: The data is released quarterly, with a typical 1-2 month delay from the end of the reference period.
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Citation
U.S. Federal Reserve, Quarterly, Not Seasonally Adjusted (LRHU24MAO1Q156N), retrieved from FRED.