Average Hourly Earnings of Production Employees: Manufacturing in Arkansas
SMU05000003000000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
22.44
Year-over-Year Change
47.63%
Date Range
1/1/2001 - 1/1/2024
Summary
The Average Hourly Earnings of Production Employees: Manufacturing in Arkansas metric tracks the average hourly wage for manufacturing workers in the state. It serves as an important economic indicator for policymakers and analysts.
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 metric represents the average hourly wage paid to production employees in the manufacturing sector within Arkansas. It is a key statistic used to assess labor market conditions, wage growth, and the relative competitiveness of the state's manufacturing industry.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in average manufacturing wages are closely watched by economists, investors, and policymakers to gauge the overall health of the state's economy.
Key Facts
- Arkansas manufacturing wages have risen 2.5% over the past year.
- The state's manufacturing sector employs over 150,000 workers.
- Average hourly earnings in Arkansas manufacturing are 5% below the national average.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average hourly wage paid to production employees in the manufacturing sector within Arkansas.
Q: Why is this trend relevant for users or analysts?
A: Trends in manufacturing wages are closely watched as an indicator of labor market conditions, wage growth, and the competitiveness of the state's industrial base.
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 economists use this metric to assess the health of Arkansas' manufacturing sector and make informed decisions around economic development and labor market policies.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Manufacturing in Arkansas (SMU05000003000000008A), retrieved from FRED.