Average Hourly Earnings of Production Employees: Manufacturing: Durable Goods in Louisiana
SMU22000003100000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25.85
Year-over-Year Change
25.61%
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 Louisiana. It provides important insights into wage dynamics and labor market conditions in the state's manufacturing industry.
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 Louisiana series tracks the mean hourly wage for workers involved in the production of durable goods, such as machinery, electronics, and transportation equipment, within Louisiana's manufacturing sector. This metric is a key indicator of labor market tightness and cost pressures.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is widely used by economists, policymakers, and businesses to assess the competitiveness and health of Louisiana's manufacturing industry.
Key Facts
- Louisiana's durable goods manufacturing sector employs over 100,000 workers.
- Average hourly earnings in this industry have increased by 20% over the past decade.
- The state's manufacturing wages are typically 10-15% lower than the national average.
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 Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into wage dynamics and labor market conditions in Louisiana's manufacturing industry, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, policymakers, and businesses to assess the competitiveness and health of Louisiana's manufacturing sector.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Manufacturing: Durable Goods in Louisiana (SMU22000003100000008A), retrieved from FRED.