Average Hourly Earnings of Production Employees: Manufacturing: Non-Durable Goods in Colorado
SMU08000003200000008 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
27.96
Year-over-Year Change
7.70%
Date Range
1/1/2001 - 7/1/2025
Summary
This economic trend measures the average hourly wages of production workers in the non-durable goods manufacturing sector in Colorado. It provides insights into labor market conditions and cost pressures faced by employers in this 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
The Average Hourly Earnings of Production Employees: Manufacturing: Non-Durable Goods in Colorado series tracks the average hourly compensation for production workers in the non-durable goods manufacturing sector within the state. This metric is closely watched by economists and policymakers as an indicator of labor market tightness and inflationary pressures.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is used to inform monetary and fiscal policy decisions that aim to balance economic growth and price stability.
Key Facts
- Colorado's non-durable goods manufacturing sector employs over 80,000 workers.
- Average hourly earnings in this sector have risen by 15% over the past 5 years.
- Wages in Colorado's non-durable goods manufacturing sector are 8% higher than the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wages of production workers in the non-durable goods manufacturing sector within the state of Colorado.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into labor market conditions and cost pressures faced by employers in this key industry, which is crucial for economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is used to inform monetary and fiscal policy decisions that aim to balance economic growth and price stability.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Manufacturing: Non-Durable Goods in Colorado (SMU08000003200000008), retrieved from FRED.