Average Hourly Earnings of Production Employees: Manufacturing in Colorado
SMU08000003000000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.52
Year-over-Year Change
29.61%
Date Range
1/1/2001 - 1/1/2024
Summary
The Average Hourly Earnings of Production Employees: Manufacturing in Colorado measures the average hourly wage for manufacturing production workers in the state. This economic indicator provides insight into labor costs and productivity trends in a key 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 series tracks the average hourly earnings of production and non-supervisory employees in the manufacturing sector in Colorado. It is a valuable data point for economists and policymakers to assess employment conditions, inflationary pressures, and competitiveness of the state's manufacturing industry.
Methodology
The data is collected through monthly surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by the Federal Reserve and other economic analysts to gauge regional labor market dynamics and cost pressures.
Key Facts
- Colorado manufacturing average hourly wage was $28.48 as of the latest data.
- Wages have risen by 3.2% over the past year.
- Manufacturing accounts for over 6% of Colorado's total employment.
FAQs
Q: What does this economic trend measure?
A: This series tracks the average hourly earnings of production and non-supervisory employees in the manufacturing sector in Colorado.
Q: Why is this trend relevant for users or analysts?
A: It provides insight into labor costs and productivity trends in a key industry, which is important for economists and policymakers assessing employment conditions, inflationary pressures, and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by the Federal Reserve and other economic analysts to gauge regional labor market dynamics and cost pressures.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical 1-2 month lag.
Related Trends
Residential Carbon Dioxide Emissions, Natural Gas for Colorado
EMISSCO2TOTVRCNGCOA
Commercial Carbon Dioxide Emissions, All Fuels for Colorado
EMISSCO2TOTVCCTOCOA
All Employees: Education and Health Services: Hospitals in Colorado
SMU08000006562200001
Total Personal Income in Colorado
COOTOT
Chain-Type Quantity Index for Real GDP: Transportation and Warehousing (48-49) in Colorado
COTRANSWAREQQGSP
All Employees: Health Care and Social Assistance in Colorado
SMU08000006562000001A
Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Manufacturing in Colorado (SMU08000003000000008A), retrieved from FRED.