Average Weekly Earnings of All Employees: Manufacturing in Colorado
SMU08000003000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,640.80
Year-over-Year Change
56.60%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Earnings of All Employees: Manufacturing in Colorado trend measures the average weekly wages of manufacturing workers in the state of Colorado. This metric is closely watched by economists and policymakers as an indicator of economic health and labor market conditions.
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 represents the average weekly earnings for all employees in the manufacturing sector in Colorado. It is a key economic indicator used to analyze trends in labor costs, worker productivity, and regional competitiveness within the manufacturing industry.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is relevant for understanding the strength of Colorado's manufacturing economy and can inform policy decisions related to workforce development, business investment, and economic growth strategies.
Key Facts
- Colorado's manufacturing sector accounts for over 7% of the state's total GDP.
- Manufacturing wages in Colorado are consistently higher than the national average.
- The trend has shown steady growth over the past decade, indicating a strengthening manufacturing economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all employees in the manufacturing sector in the state of Colorado.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of the health and competitiveness of Colorado's manufacturing industry, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to inform decisions related to workforce development, business investment, and economic growth strategies in Colorado's manufacturing sector.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of one to two months.
Related Trends
Total Unemployed, Plus Discouraged Workers, Plus All Other Marginally Attached Workers, as a Percent of the Civilian Labor Force Plus All Marginally Attached Workers for Colorado
U5UNEM5CO
Real Gross Domestic Product: Wholesale Trade (42) in Colorado
COWHOLERGSP
Real Gross Domestic Product: Farms (111-112) in Colorado
COFARMRGSP
State Government Tax Collections, Other License Taxes in Colorado
COOTHLICTAX
Chain-Type Quantity Index for Real GDP: Health Care and Social Assistance (62) in Colorado
COHLTHSOCASSQGSP
Value of Exports to Germany from Colorado
CODEUA052SCEN
Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Manufacturing in Colorado (SMU08000003000000011A), retrieved from FRED.