Average Hourly Earnings of Production Employees: Manufacturing in Minnesota
SMU27000003000000008 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
30.71
Year-over-Year Change
7.68%
Date Range
1/1/2001 - 6/1/2025
Summary
The Average Hourly Earnings of Production Employees: Manufacturing in Minnesota measures the average hourly wage paid to manufacturing production workers in the state. This provides insight into labor costs and broader economic conditions.
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 economic indicator tracks the average hourly wage for non-supervisory manufacturing workers in Minnesota. It is used by economists and policymakers to assess trends in labor costs, productivity, and the overall health of the state's manufacturing sector.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This metric helps inform monetary and fiscal policies aimed at maintaining a stable and competitive manufacturing industry.
Key Facts
- Minnesota's manufacturing sector accounts for over 300,000 jobs.
- Manufacturing makes up about 13% of the state's GDP.
- Wages in Minnesota's manufacturing industry are typically higher than the statewide average.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average hourly wage paid to production workers in Minnesota's manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: The average hourly earnings data provides insights into labor costs and productivity, which are key factors for evaluating the health and competitiveness of the state's manufacturing industry.
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: Policymakers and economists use this metric to inform decisions around monetary, fiscal, and industry policies aimed at supporting a robust manufacturing sector in Minnesota.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Manufacturing in Minnesota (SMU27000003000000008), retrieved from FRED.