Nondurable Manufacturing Wages and Salaries in Missouri
MOWNON • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,020,645.00
Year-over-Year Change
9.87%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Nondurable Manufacturing Wages and Salaries in Missouri' trend measures the average hourly earnings of production and nonsupervisory employees in the nondurable goods manufacturing sector within the state of Missouri. This data is crucial for economists and policymakers to understand regional labor market dynamics.
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 economic series tracks the nominal wages and salaries paid to workers in Missouri's nondurable manufacturing industries, which include food processing, textile mills, and chemical production. The data provides insights into employment costs and industry competitiveness within the state.
Methodology
The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and businesses use this metric to monitor regional economic conditions and make informed decisions about investment, hiring, and regulatory policies.
Key Facts
- Missouri's nondurable manufacturing sector employs over 150,000 workers.
- Average hourly wages in this sector are around $18 per hour.
- Wages have grown by 3% annually over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of production and nonsupervisory employees in the nondurable goods manufacturing sector within the state of Missouri.
Q: Why is this trend relevant for users or analysts?
A: This data provides crucial insights into regional labor market dynamics and industry competitiveness, which are important for economic policymaking and business decision-making.
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: Policymakers and businesses use this metric to monitor regional economic conditions and make informed decisions about investment, hiring, and regulatory policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay. There may be limitations in coverage for smaller nondurable manufacturing employers.
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Citation
U.S. Federal Reserve, Nondurable Manufacturing Wages and Salaries in Missouri (MOWNON), retrieved from FRED.