Average Weekly Earnings of Production Employees: Manufacturing in Hawaii
SMU15000003000000030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,164.40
Year-over-Year Change
60.86%
Date Range
1/1/2001 - 1/1/2024
Summary
The 'Average Weekly Earnings of Production Employees: Manufacturing in Hawaii' measures the average weekly earnings of production workers in the manufacturing sector in Hawaii. This metric is an important indicator of economic conditions and labor market trends in the state.
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 represents the average weekly earnings of non-supervisory workers in the manufacturing sector in Hawaii. It is a key statistic used by economists and policymakers to assess the overall health and productivity of the state's manufacturing industry and labor market.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through monthly surveys of businesses.
Historical Context
Trends in average weekly earnings are closely monitored by the Federal Reserve and other institutions to inform economic and policy decisions.
Key Facts
- Hawaii's manufacturing sector employs over 15,000 workers.
- Average weekly earnings in Hawaii manufacturing are 10% higher than the national average.
- Manufacturing accounts for 2% of Hawaii's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of production workers in the manufacturing sector in Hawaii. It provides insight into wage levels and labor market conditions in this key industry.
Q: Why is this trend relevant for users or analysts?
A: Trends in average weekly earnings in manufacturing are closely watched by economists, policymakers, and businesses as an indicator of economic health, labor market dynamics, and industry productivity.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through monthly surveys of businesses in Hawaii's manufacturing sector.
Q: How is this trend used in economic policy?
A: Metrics like average weekly earnings in manufacturing are used by the Federal Reserve and other institutions to monitor economic conditions and inform policy decisions related to employment, wages, and the overall health of the state's economy.
Q: Are there update delays or limitations?
A: The average weekly earnings data is published monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of Production Employees: Manufacturing in Hawaii (SMU15000003000000030A), retrieved from FRED.