Nondurable Manufacturing Wages and Salaries in North Dakota
NDWNON • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
714,923.00
Year-over-Year Change
17.41%
Date Range
1/1/1998 - 1/1/2025
Summary
The Nondurable Manufacturing Wages and Salaries in North Dakota trend measures the average hourly earnings of production and nonsupervisory employees in the state's nondurable manufacturing sector. This provides insight into labor market conditions and cost pressures in a key North Dakota 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
This economic indicator tracks the average hourly wages and salaries paid to workers involved in the production of nondurable goods, such as food, textiles, and chemicals, within North Dakota's manufacturing sector. It is a useful measure of labor costs and can inform analysis of the state's economic performance and competitiveness.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this trend to monitor labor market dynamics and cost factors that may influence business investment and consumer prices in North Dakota.
Key Facts
- North Dakota is a major agricultural and energy-producing state.
- Nondurable manufacturing accounts for over 20% of North Dakota's total manufacturing output.
- Wages and salaries in this sector have risen by over 30% in the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of production and nonsupervisory employees in North Dakota's nondurable manufacturing sector, which includes industries like food processing, textiles, and chemicals.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor market conditions and cost pressures within a key industry in North Dakota, which can inform analysis of the state's economic performance and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to monitor labor market dynamics and cost factors that may influence business investment and consumer prices in North Dakota.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Nondurable Manufacturing Wages and Salaries in North Dakota (NDWNON), retrieved from FRED.