Average Hourly Earnings of Production Employees: Manufacturing: Durable Goods in Indiana
SMU18000003100000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26.74
Year-over-Year Change
36.29%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic trend measures the average hourly earnings of production employees in the durable goods manufacturing sector in Indiana. It provides insights into wage dynamics and labor market conditions in this key industrial area.
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 Indiana metric tracks the average hourly compensation for workers involved in the production of durable goods, such as machinery, equipment, and other hard products, within Indiana's manufacturing sector. This data point is a valuable indicator of economic activity and worker well-being in the state.
Methodology
The data is collected through surveys of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by policymakers, economists, and businesses to assess the strength of Indiana's manufacturing industry and labor market.
Key Facts
- Indiana is a major manufacturing hub, producing a wide range of durable goods.
- Durable goods manufacturing accounts for a significant portion of the state's economy.
- Trends in production worker earnings can signal changes in economic conditions and labor demand.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of production employees in the durable goods manufacturing sector within the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into wage dynamics and labor market conditions in Indiana's key manufacturing industry, which is crucial for understanding the state's economic performance.
Q: How is this data collected or calculated?
A: The data is collected through surveys of establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and businesses closely monitor this trend to assess the strength of Indiana's manufacturing industry and labor market, which informs economic policies and business decisions.
Q: Are there update delays or limitations?
A: The data is subject to the release schedule and methodological limitations of the U.S. Bureau of Labor Statistics surveys.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Manufacturing: Durable Goods in Indiana (SMU18000003100000008A), retrieved from FRED.