Average Hourly Earnings of Production Employees: Manufacturing: Durable Goods in Massachusetts
SMU25000003100000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29.93
Year-over-Year Change
33.32%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic trend measures the average hourly earnings of production employees in the manufacturing of durable goods industry in Massachusetts. It provides insight into wage growth and labor market conditions in a key sector of the state's economy.
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 Massachusetts data series tracks the average hourly wage paid to workers involved in the production of durable manufactured goods within the state. This metric is closely watched by economists and policymakers as an indicator of labor market strength and inflationary pressures.
Methodology
The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Changes in this trend can inform monetary and fiscal policy decisions at the state and national level.
Key Facts
- Earnings averaged $25.67 per hour as of the latest data.
- Wages have risen 2.5% over the past year.
- Massachusetts is a top producer of durable goods like computers and electronics.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of production workers in the manufacturing of durable goods industry in Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into wage growth and labor market conditions in a key sector of the state's economy, which is important for economists and policymakers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Changes in this trend can inform monetary and fiscal policy decisions at the state and national level.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Manufacturing: Durable Goods in Massachusetts (SMU25000003100000008A), retrieved from FRED.