Average Hourly Earnings of Production Employees: Manufacturing in Idaho
SMU16000003000000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
24.03
Year-over-Year Change
15.92%
Date Range
1/1/2001 - 1/1/2024
Summary
The 'Average Hourly Earnings of Production Employees: Manufacturing in Idaho' trend measures the average hourly wage for manufacturing production workers in the state of Idaho. This metric provides insight into labor costs and productivity in the state's manufacturing 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 series tracks the average hourly earnings of production employees in the manufacturing industry within the state of Idaho. It is a key indicator of labor market conditions and can inform economic and policy decisions related to wages, employment, and the competitiveness of Idaho's manufacturing sector.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists use this trend to evaluate the economic health and labor market dynamics within Idaho's manufacturing industry.
Key Facts
- Manufacturing accounts for over 10% of Idaho's GDP.
- Idaho's manufacturing sector employs over 70,000 workers.
- Hourly wages in Idaho's manufacturing industry are typically higher than the state's average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of production employees in the manufacturing industry within the state of Idaho.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor costs and productivity in Idaho's manufacturing sector, which is an important part of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to evaluate the economic health and labor market dynamics within Idaho's manufacturing industry.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 month delay and may be subject to revisions.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Manufacturing in Idaho (SMU16000003000000008A), retrieved from FRED.