Average Weekly Earnings of Production Employees: Financial Activities: Finance and Insurance in Minnesota
Annual
SMU27000005552000030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,531.07
Year-over-Year Change
63.60%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual trend measures the average hourly earnings of production and nonsupervisory employees in the manufacturing sector in the United States. It provides insights into labor costs and wage growth, which are key economic indicators.
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 tracks the average hourly earnings paid to production and nonsupervisory workers in the U.S. manufacturing industry. This metric is widely used by economists and policymakers to monitor changes in labor costs and assess the overall health of the manufacturing sector.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual trend is an important input for the Federal Reserve and other institutions when evaluating the state of the economy and making policy decisions.
Key Facts
- The Annual trend has shown steady growth in recent years.
- Manufacturing wages account for a significant portion of overall labor costs.
- Changes in the Annual trend can signal shifts in the competitiveness of the U.S. manufacturing sector.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average hourly earnings of production and nonsupervisory employees in the U.S. manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into labor costs and wage growth in the manufacturing industry, which are key indicators of 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: The Annual trend is an important input for the Federal Reserve and other institutions when evaluating the state of the economy and making policy decisions.
Q: Are there update delays or limitations?
A: The Annual trend data is published monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Annual (SMU27000005552000030A), retrieved from FRED.