Average Weekly Earnings of All Employees: Goods Producing in Massachusetts
SMU25000000600000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,714.69
Year-over-Year Change
47.93%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Earnings of All Employees: Goods Producing in Massachusetts measures the average weekly earnings for workers in the goods-producing sector within the state of Massachusetts. This trend provides insights into wage growth and labor market conditions in the state's manufacturing and production 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
This data series tracks the average weekly earnings of all employees in the goods-producing sector of the Massachusetts economy, which includes industries such as manufacturing, construction, and mining. It is a key indicator of compensation trends and can be used to assess the economic health and competitiveness of the state's industrial base.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this trend to monitor the state's economic performance and support evidence-based decision-making.
Key Facts
- Massachusetts is a major manufacturing hub in the U.S.
- Wages in the goods-producing sector are a key indicator of economic health.
- This data series has been tracked since the 1960s.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all employees in the goods-producing sector of the Massachusetts economy, which includes industries like manufacturing, construction, and mining.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into wage growth and labor market conditions in Massachusetts' industrial base, which is important for assessing the state's economic health and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to monitor the state's economic performance and support evidence-based decision-making.
Q: Are there update delays or limitations?
A: The data is updated monthly and has been tracked since the 1960s, providing a long-term historical perspective.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Goods Producing in Massachusetts (SMU25000000600000011A), retrieved from FRED.