Average Weekly Earnings of All Employees: Goods Producing in Indiana
SMU18000000600000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,244.24
Year-over-Year Change
23.46%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Earnings of All Employees: Goods Producing in Indiana measures the average weekly wages for workers in the goods-producing sector of Indiana's economy. This key economic indicator helps policymakers and economists assess the strength of the state's manufacturing and industrial base.
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 tracks the average weekly earnings for all employees working in Indiana's goods-producing industries, which include manufacturing, mining, and construction. It provides insights into labor costs, worker productivity, and inflationary pressures within the state's industrial sector.
Methodology
The data is collected through monthly surveys of Indiana employers by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in Indiana's goods-producing wages are closely monitored by the Federal Reserve, state policymakers, and industry analysts to evaluate the economic health of the manufacturing-heavy state.
Key Facts
- Indiana's goods-producing sector accounts for over 17% of the state's total employment.
- Weekly wages in Indiana's goods-producing industries are typically 25-30% higher than the state's overall average.
- Manufacturing is the largest component of Indiana's goods-producing sector, comprising over 70% of total employment.
FAQs
Q: What does this economic trend measure?
A: The Average Weekly Earnings of All Employees: Goods Producing in Indiana measures the average weekly wages for workers in the state's manufacturing, mining, and construction industries.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the economic health and labor costs of Indiana's industrial base, which is a critical driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of Indiana employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in Indiana's goods-producing wages are closely monitored by the Federal Reserve, state policymakers, and industry analysts to evaluate the state's economic health and competitiveness.
Q: Are there update delays or limitations?
A: The data is published with a one-month lag by the U.S. Bureau of Labor Statistics.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Goods Producing in Indiana (SMU18000000600000011A), retrieved from FRED.