Average Weekly Earnings of All Employees: Manufacturing in Connecticut
SMU09000003000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,469.38
Year-over-Year Change
20.47%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Weekly Earnings of All Employees: Manufacturing in Connecticut' trend measures the average weekly earnings for manufacturing workers in the state of Connecticut. This metric provides insight into the economic well-being and purchasing power of an important segment of the state's workforce.
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 weekly earnings for all employees in the manufacturing sector in Connecticut. It is a key indicator of wage growth and purchasing power in this industry, which is an important driver of the state's economy. Economists and policymakers analyze this data to assess economic conditions and guide fiscal and monetary policies.
Methodology
The data is collected through surveys of manufacturing establishments in Connecticut by the U.S. Bureau of Labor Statistics.
Historical Context
Changes in this metric are closely watched by analysts, as manufacturing earnings can influence consumer spending, inflation, and the overall health of the state's economy.
Key Facts
- Manufacturing accounts for about 10% of Connecticut's GDP.
- Average weekly earnings in Connecticut's manufacturing sector have risen by 15% over the past decade.
- The COVID-19 pandemic caused a temporary dip in manufacturing earnings in Connecticut in 2020.
FAQs
Q: What does this economic trend measure?
A: The 'Average Weekly Earnings of All Employees: Manufacturing in Connecticut' trend measures the average weekly earnings for manufacturing workers in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the economic well-being and purchasing power of an important segment of Connecticut's workforce, which can inform economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturing establishments in Connecticut by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Changes in this metric are closely watched by analysts, as manufacturing earnings can influence consumer spending, inflation, and the overall health of the state's economy, informing fiscal and monetary policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical release lag of 1-2 months.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Manufacturing in Connecticut (SMU09000003000000011A), retrieved from FRED.