Average Hourly Earnings of All Employees: Goods Producing in Iowa
SMU19000000600000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31.01
Year-over-Year Change
44.23%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic trend measures the average hourly earnings of all employees in the goods-producing sector in Iowa. It provides insights into labor costs and productivity in the state's manufacturing and other goods-producing industries.
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 All Employees: Goods Producing in Iowa tracks the mean hourly wage for workers in the state's goods-producing industries, which include manufacturing, construction, and mining. This metric is used by economists and policymakers to monitor labor market conditions and inflationary pressures.
Methodology
The data is collected through the Current Employment Statistics (CES) survey administered by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely watched by the Federal Reserve and other institutions to assess the overall health of Iowa's economy and inform monetary and fiscal policy decisions.
Key Facts
- Iowa's goods-producing sector accounts for about 20% of total nonfarm employment.
- Hourly earnings in Iowa's goods-producing industries are typically higher than the national average.
- Manufacturing is the largest component of Iowa's goods-producing sector.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of all employees in the goods-producing sector in the state of Iowa, including manufacturing, construction, and mining.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor costs and productivity in Iowa's key goods-producing industries, which is useful for economists and policymakers assessing the overall health of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey administered by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Federal Reserve and other institutions closely monitor this trend to assess labor market conditions and inflationary pressures in Iowa, which informs monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical release lag of around one month.
Related Trends
Real Gross Domestic Product: Private Industries in Iowa
IAPIRQGSP
Mining Wages and Salaries in Iowa
IAWMIN
Management of Companies and Enterprises Wages and Salaries in Iowa
IAWMAN
Regional Price Parities: Goods for Iowa
IARPPGOOD
Real Gross Domestic Product: Air Transportation (481) in Iowa
IAAIRTRANRGSP
Monthly State Retail Sales: Total Retail Sales Excluding Nonstore Retailers in Iowa
MSRSIATOTAL
Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Goods Producing in Iowa (SMU19000000600000003A), retrieved from FRED.