Durable Manufacturing Wages and Salaries in North Carolina
NCWDUR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20,684,929.00
Year-over-Year Change
11.18%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Durable Manufacturing Wages and Salaries in North Carolina' trend measures the average hourly earnings of workers in the durable manufacturing sector in North Carolina. This metric is a key indicator of labor costs and economic activity in the state's industrial base.
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 series tracks the average hourly compensation, including wages and salaries, for production and nonsupervisory employees in durable goods manufacturing in North Carolina. It provides insight into labor market conditions and trends affecting a vital part of the state's economy.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Current Employment Statistics (CES) survey of businesses.
Historical Context
Policymakers and analysts use this metric to gauge the economic health of North Carolina's durable manufacturing sector and its competitiveness.
Key Facts
- North Carolina is a major hub for durable goods manufacturing.
- Durable manufacturing accounts for over 10% of the state's GDP.
- Average hourly wages in this sector have risen by 20% in the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings, including wages and salaries, of production and nonsupervisory workers in the durable manufacturing sector in North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor market conditions and compensation trends in a key part of North Carolina's industrial base, which is important for assessing the state's economic competitiveness and growth.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Current Employment Statistics (CES) survey of businesses.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to gauge the health of North Carolina's durable manufacturing sector and inform decisions related to economic development, workforce training, and competitiveness strategies.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical 1-2 month lag, and may be subject to revisions as more information becomes available.
Related Trends
Real Gross Domestic Product: Government and Government Enterprises (92) in North Carolina
NCGOVRQGSP
All Employees: Professional and Business Services: Management of Companies and Enterprises in North Carolina
SMU37000006055000001
All Employees: Goods Producing in North Carolina
SMS37000000600000001
Personal Contributions for Social Insurance in North Carolina
NCOSOC
Insured Unemployment Rate in North Carolina
NCINSUREDUR
All Employees: Retail Trade: Motor Vehicle and Parts Dealers in North Carolina
SMU37000004244100001SA
Citation
U.S. Federal Reserve, Durable Manufacturing Wages and Salaries in North Carolina (NCWDUR), retrieved from FRED.