Average Weekly Earnings of Production Employees: Manufacturing: Non-Durable Goods in Arkansas
SMU05000003200000030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
698.00
Year-over-Year Change
20.23%
Date Range
1/1/2001 - 1/1/2024
Summary
The Average Weekly Earnings of Production Employees: Manufacturing: Non-Durable Goods in Arkansas measures the average weekly earnings of manufacturing workers in non-durable goods industries within the state.
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 provides insights into wage trends and labor costs for Arkansas's non-durable manufacturing sector, which is an important component of the state's economy. Economists and policymakers monitor this indicator to assess the health of the manufacturing industry and broader economic conditions.
Methodology
The data is collected through a monthly survey of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This metric can inform state-level economic and workforce development policies.
Key Facts
- Arkansas's non-durable manufacturing sector employs over 100,000 workers.
- Average weekly earnings in this industry have risen by 20% over the past decade.
- Wage trends in non-durable goods manufacturing can signal broader economic conditions in the state.
FAQs
Q: What does this economic trend measure?
A: This metric measures the average weekly earnings of production employees in Arkansas's non-durable manufacturing industries, providing insights into wage levels and labor costs in this key sector.
Q: Why is this trend relevant for users or analysts?
A: Monitoring wage trends in non-durable manufacturing is important for understanding the health of Arkansas's economy and the competitiveness of the state's manufacturing industry.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This metric can inform state-level economic and workforce development policies, as well as provide context for analysts and policymakers assessing the broader performance of Arkansas's manufacturing sector.
Q: Are there update delays or limitations?
A: The data is published with a one-month lag and may be subject to periodic revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of Production Employees: Manufacturing: Non-Durable Goods in Arkansas (SMU05000003200000030A), retrieved from FRED.