Average Weekly Earnings of All Employees: Manufacturing in Florida
SMU12000003000000011 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,416.83
Year-over-Year Change
0.93%
Date Range
1/1/2007 - 6/1/2025
Summary
The 'Average Weekly Earnings of All Employees: Manufacturing in Florida' metric tracks the average weekly earnings for manufacturing workers in Florida. This key labor market indicator provides insight into wage growth and purchasing power in the state's industrial sector.
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 data series represents the average weekly earnings for all employees in the manufacturing industry across Florida. It is a valuable economic indicator used to analyze trends in worker compensation, labor costs, and the health of the state's industrial base.
Methodology
The data is collected through the Current Employment Statistics (CES) program, a monthly survey of businesses conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts monitor this metric to assess the economic conditions and competitiveness of Florida's manufacturing sector.
Key Facts
- Florida's manufacturing sector employs over 400,000 workers.
- Average weekly earnings in Florida manufacturing are higher than the national average.
- Wages have steadily increased in the state's manufacturing industry over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average weekly earnings for all employees in the manufacturing industry across the state of Florida.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insight into wage growth, labor costs, and the overall health of Florida's industrial sector, which is important for policymakers and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) program, a monthly survey of businesses conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this metric to assess the economic conditions and competitiveness of Florida's manufacturing sector, which is crucial for informing economic development strategies and workforce policies.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Manufacturing in Florida (SMU12000003000000011), retrieved from FRED.