Average Hourly Earnings of Production Employees: Manufacturing: Durable Goods in Connecticut
SMU09000003100000008 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31.07
Year-over-Year Change
-6.64%
Date Range
1/1/2001 - 7/1/2025
Summary
This economic indicator tracks the average hourly earnings of production employees in the durable goods manufacturing sector in Connecticut. It provides insights into labor costs and productivity trends in the state's manufacturing 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: Durable Goods in Connecticut metric measures the average hourly compensation, including base pay and any additional bonuses or incentives, for workers involved in the production of durable goods within the state's manufacturing sector. This data point is used by economists and policymakers to analyze labor market conditions and cost pressures.
Methodology
The data is collected through surveys of establishments conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is relevant for assessing the competitiveness and health of Connecticut's manufacturing industry, which has implications for the state's overall economic performance.
Key Facts
- Manufacturing accounts for over 10% of Connecticut's GDP.
- Durable goods production makes up the majority of the state's manufacturing output.
- Hourly wages in Connecticut's manufacturing sector are among the highest in the nation.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the average hourly compensation, including base pay and any additional bonuses or incentives, for workers involved in the production of durable goods within Connecticut's manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This data point is used by economists and policymakers to analyze labor market conditions and cost pressures in Connecticut's manufacturing industry, which has implications for the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected through surveys of establishments conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is relevant for assessing the competitiveness and health of Connecticut's manufacturing sector, which can inform economic development strategies and policies aimed at supporting the state's industrial base.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, but there may be some delays in publishing the most recent figures.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Manufacturing: Durable Goods in Connecticut (SMU09000003100000008), retrieved from FRED.