Average Weekly Earnings of Production Employees: Manufacturing: Non-Durable Goods in Louisiana
SMU22000003200000030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,525.10
Year-over-Year Change
91.73%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic trend measures the average weekly earnings of production employees in the non-durable goods manufacturing industry in Louisiana. It is a key indicator of the economic well-being and purchasing power of this important 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
The Average Weekly Earnings of Production Employees: Manufacturing: Non-Durable Goods in Louisiana data series provides insight into wage and income trends for manufacturing workers in this state. It is widely used by economists, policymakers, and industry analysts to assess economic conditions and labor market dynamics.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is relevant for understanding the health of Louisiana's manufacturing sector and consumer demand.
Key Facts
- Manufacturing accounts for over 10% of Louisiana's GDP.
- Non-durable goods production makes up nearly half of Louisiana's manufacturing output.
- Wages in this sector have grown over 3% per year on average in the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of production employees in the non-durable goods manufacturing industry in Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into wage and income trends for an important sector of Louisiana's economy, which is crucial for assessing economic conditions and consumer demand.
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: This trend is used by economists, policymakers, and industry analysts to understand the health of Louisiana's manufacturing sector and its impact on the broader economy.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical lag of around one month.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of Production Employees: Manufacturing: Non-Durable Goods in Louisiana (SMU22000003200000030A), retrieved from FRED.