Monthly, Seasonally Adjusted
SMU08000004245200001SA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
54.17
Year-over-Year Change
-2.64%
Date Range
1/1/1990 - 12/1/2022
Summary
The 'Monthly, Seasonally Adjusted' series measures the average hourly earnings of production and nonsupervisory employees in the manufacturing sector in the United States. This key economic indicator provides insights into labor market conditions and wage trends.
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 monthly data series tracks changes in average hourly earnings for production and nonsupervisory workers in the U.S. manufacturing industry. It is a widely followed metric that economists and policymakers use to analyze employment, inflation, and broader economic trends.
Methodology
The data is collected through monthly surveys of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This indicator is monitored by the Federal Reserve and other institutions to inform decisions around monetary and fiscal policies.
Key Facts
- Manufacturing accounts for about 11% of U.S. GDP.
- Wages make up the largest component of business costs.
- Tracking hourly earnings helps assess inflationary pressures.
FAQs
Q: What does this economic trend measure?
A: This series tracks the average hourly earnings of production and nonsupervisory employees in the U.S. manufacturing sector on a monthly, seasonally adjusted basis.
Q: Why is this trend relevant for users or analysts?
A: Manufacturing wages are an important indicator of labor market conditions and can provide insights into broader economic trends like inflation and the strength of the broader economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Federal Reserve and other policymakers monitor this indicator to help inform decisions around monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical lag of around one month.
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Citation
U.S. Federal Reserve, Monthly, Seasonally Adjusted (SMU08000004245200001SA), retrieved from FRED.