Average Weekly Earnings of Production Employees: Manufacturing: Durable Goods in Minnesota
Annual
SMU27000003100000030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,162.59
Year-over-Year Change
47.28%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual trend measures the annual average of total wages and salaries in the private sector in the United States. This metric is important for economists and policymakers to understand broader labor market conditions and compensation trends.
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 Annual trend represents the average of total private sector wages and salaries paid over the course of a full calendar year. This data series is used to analyze changes in worker compensation, which is a key indicator of economic health and a factor in policy decisions.
Methodology
The data is collected through the Quarterly Census of Employment and Wages program, which surveys a large sample of private-sector employers.
Historical Context
Trends in private sector wages can inform monetary and fiscal policy, as well as shape business and consumer expectations.
Key Facts
- The Annual trend tracks total private sector wages and salaries.
- It is a key indicator of economic conditions and worker compensation.
- The data is collected through a comprehensive survey of private employers.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average of total wages and salaries paid to private sector workers over the course of a calendar year.
Q: Why is this trend relevant for users or analysts?
A: Trends in private sector wages and compensation are important indicators of economic health and a key input for policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through the Quarterly Census of Employment and Wages program, which surveys a large sample of private-sector employers.
Q: How is this trend used in economic policy?
A: Movements in private sector wages can inform monetary and fiscal policy, as well as shape business and consumer expectations.
Q: Are there update delays or limitations?
A: The Annual trend data is published with a lag to allow for comprehensive surveying of employers.
Related Trends
Gross Domestic Product: Warehousing and Storage (493) in Minnesota
MNWARESTORNGSP
Chain-Type Quantity Index for Real GDP: Utilities (22) in Minnesota
MNUTILQGSP
Real Gross Domestic Product: Insurance Carriers and Related Activities (524) in Minnesota
MNINSCRARGSP
Forestry, Fishing, Related Activities, and Other Earnings in Minnesota
MNEFOR
Real Gross Domestic Product: Information (51) in Minnesota
MNINFORGSP
All Employees: Leisure and Hospitality: Accommodation in Minnesota
SMU27000007072100001SA
Citation
U.S. Federal Reserve, Annual (SMU27000003100000030A), retrieved from FRED.