Durable Manufacturing Wages and Salaries in South Carolina
SCWDUR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,924,964.00
Year-over-Year Change
21.46%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Durable Manufacturing Wages and Salaries in South Carolina' series measures the average hourly earnings of production and nonsupervisory employees in the durable goods manufacturing industry in South Carolina. This metric provides insights into the economic health and labor trends of the state's durable 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
This data series tracks changes in the average hourly wages and salaries paid to workers in South Carolina's durable goods manufacturing industries, which include the production of items like machinery, electronics, and transportation equipment. Analyzing this metric can help economists and policymakers assess the competitiveness and purchasing power of the state's manufacturing workforce.
Methodology
The data is collected through monthly surveys of a sample of manufacturing establishments in South Carolina.
Historical Context
Trends in durable manufacturing wages are closely monitored by state and federal policymakers to inform economic and labor market policies.
Key Facts
- South Carolina is a major hub for durable goods manufacturing.
- Durable manufacturing accounts for over 20% of the state's GDP.
- Average hourly wages in this sector are above the national average.
FAQs
Q: What does this economic trend measure?
A: This series measures the average hourly earnings of production and nonsupervisory employees in the durable goods manufacturing industry in South Carolina.
Q: Why is this trend relevant for users or analysts?
A: Tracking changes in durable manufacturing wages provides insights into the economic health and labor market conditions of a key industry in South Carolina.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of a sample of manufacturing establishments in South Carolina.
Q: How is this trend used in economic policy?
A: Trends in durable manufacturing wages are closely monitored by state and federal policymakers to inform economic and labor market policies.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical 2-3 week lag.
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Citation
U.S. Federal Reserve, Durable Manufacturing Wages and Salaries in South Carolina (SCWDUR), retrieved from FRED.