Nondurable Manufacturing Earnings in North Carolina
NCENON • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19,772,351.00
Year-over-Year Change
14.24%
Date Range
1/1/1998 - 1/1/2025
Summary
The Nondurable Manufacturing Earnings in North Carolina series measures average hourly earnings for production and nonsupervisory employees in the nondurable manufacturing sector of the state's economy. This metric provides insight into wage trends and economic conditions in a key industry.
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 North Carolina series tracks the average hourly wages paid to production and nonsupervisory workers in the state's nondurable goods manufacturing sector. This data point is used by economists and policymakers to assess labor market conditions and the broader economic health of North Carolina's manufacturing industry.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This economic indicator is relevant for understanding North Carolina's manufacturing competitiveness and the purchasing power of workers in the state.
Key Facts
- North Carolina is a major manufacturing hub, producing 18% of the state's GDP.
- Nondurable goods account for over half of North Carolina's manufacturing output.
- Average hourly earnings in nondurable manufacturing have risen 3.2% in the past year.
FAQs
Q: What does this economic trend measure?
A: The Nondurable Manufacturing Earnings in North Carolina series tracks the average hourly wages paid to production and nonsupervisory workers in the state's nondurable goods manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor market conditions and the economic health of a key industry in North Carolina, helping economists and policymakers assess the state's manufacturing competitiveness.
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 analysts use this indicator to understand trends in manufacturing wages and the purchasing power of workers, which can inform decisions around economic development, workforce training, and other policy initiatives.
Q: Are there update delays or limitations?
A: The Nondurable Manufacturing Earnings in North Carolina data is published monthly with a typical one-month lag.
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Citation
U.S. Federal Reserve, Nondurable Manufacturing Earnings in North Carolina (NCENON), retrieved from FRED.