Nondurable Manufacturing Earnings in Minnesota
MNENON • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13,393,043.00
Year-over-Year Change
15.69%
Date Range
1/1/1998 - 1/1/2025
Summary
The Nondurable Manufacturing Earnings in Minnesota trend measures average weekly earnings for nondurable goods manufacturing workers in the state. This metric provides insight into labor market conditions and production costs within Minnesota's 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 Nondurable Manufacturing Earnings in Minnesota series tracks inflation-adjusted average weekly earnings for employees in Minnesota-based manufacturing facilities that produce non-durable goods. This helps economists and policymakers assess the competitive position and cost structures of the state's manufacturing industry.
Methodology
The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Manufacturing earnings trends are closely monitored for their implications on state and regional economic performance, business costs, and policy decisions.
Key Facts
- Minnesota's nondurable manufacturing accounts for over 20% of the state's total manufacturing output.
- Real average weekly earnings in Minnesota's nondurable sector have risen by 7% over the past decade.
- Manufacturing is the second-largest private sector employer in Minnesota, providing over 300,000 jobs.
FAQs
Q: What does this economic trend measure?
A: The Nondurable Manufacturing Earnings in Minnesota series tracks average weekly earnings for workers in the state's nondurable goods manufacturing facilities.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor market conditions, production costs, and the competitive position of Minnesota's manufacturing industry, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Manufacturing earnings trends are closely monitored by policymakers and economists for their implications on state and regional economic performance, business costs, and policy decisions.
Q: Are there update delays or limitations?
A: The Nondurable Manufacturing Earnings in Minnesota data is published monthly with a typical 1-2 month lag from the reference period.
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Citation
U.S. Federal Reserve, Nondurable Manufacturing Earnings in Minnesota (MNENON), retrieved from FRED.