Average Weekly Earnings of All Employees: Goods Producing in Mississippi
SMU28000000600000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,153.79
Year-over-Year Change
36.14%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Weekly Earnings of All Employees: Goods Producing in Mississippi' trend measures the average weekly wages of employees in the goods-producing sector in Mississippi. This metric is a key indicator of economic conditions and purchasing power in the state.
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 series tracks the average weekly earnings of all employees across Mississippi's goods-producing industries, which include manufacturing, construction, mining, and logging. It provides insight into labor market dynamics and compensation levels for a major component of the state's economy.
Methodology
The data is collected through employer surveys and compiled by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists use this metric to assess the overall health of Mississippi's economy and the strength of consumer demand.
Key Facts
- Mississippi's goods-producing sector accounts for over 20% of state GDP.
- Average weekly earnings in this sector have risen by 15% over the past decade.
- Wages in the goods-producing industries are typically higher than the statewide average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all employees in Mississippi's goods-producing industries, including manufacturing, construction, mining, and logging.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor market conditions and purchasing power in a key sector of Mississippi's economy, which is valuable for policymakers, businesses, and economists analyzing regional economic trends.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys and compiled by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the overall health of Mississippi's economy and consumer demand, which can inform decisions around economic development, workforce policies, and fiscal measures.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Goods Producing in Mississippi (SMU28000000600000011A), retrieved from FRED.