Average Hourly Earnings of Production Employees: Wholesale Trade in Minnesota
SMU27000004100000008 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
35.44
Year-over-Year Change
4.05%
Date Range
1/1/2001 - 6/1/2025
Summary
This economic trend measures the average hourly earnings of production employees in the wholesale trade industry in Minnesota. It provides insights into labor costs and productivity in this key economic 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 Hourly Earnings of Production Employees: Wholesale Trade in Minnesota series tracks the average hourly wages paid to workers involved in the production, handling, and distribution of wholesale goods within the state. This data is used by economists and policymakers to analyze employment dynamics and inflationary pressures.
Methodology
The data is collected through surveys of employers conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This metric informs decisions around monetary policy, minimum wage, and workforce development programs.
Key Facts
- Minnesota's wholesale trade sector employs over 130,000 workers.
- Wages in this industry have risen by 3.2% over the past year.
- Wholesale trade accounts for 5.2% of Minnesota's total GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of production employees working in the wholesale trade industry in Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into labor costs and productivity within a key economic sector, informing decisions around monetary policy, employment, and workforce development.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This metric is used by economists and policymakers to analyze employment dynamics and inflationary pressures, and to inform decisions around monetary policy, minimum wage, and workforce development programs.
Q: Are there update delays or limitations?
A: The data is updated monthly with a typical 2-week lag between the reference period and publication.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Wholesale Trade in Minnesota (SMU27000004100000008), retrieved from FRED.