Average Hourly Earnings of Production Employees: Manufacturing: Durable Goods in Mississippi
SMU28000003100000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
23.50
Year-over-Year Change
45.33%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic trend measures the average hourly earnings of production employees in the durable goods manufacturing sector in Mississippi. It provides insights into labor costs and productivity in a key industry.
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: Manufacturing: Durable Goods in Mississippi tracks the typical hourly wage for workers involved in the production of durable goods within the state's manufacturing sector. This metric is closely monitored by economists and policymakers to gauge inflationary pressures and competitiveness.
Methodology
The data is collected through surveys of manufacturing establishments conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend informs economic and labor market analysis, as well as policy decisions related to wages, employment, and industrial development.
Key Facts
- Durable goods are products designed to last three years or more.
- Manufacturing accounts for over 15% of Mississippi's GDP.
- Hourly wages in durable goods production have risen steadily in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of production employees in the durable goods manufacturing sector within the state of Mississippi.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor costs and productivity in a key industry, informing economic and policy analysis related to wages, employment, and industrial development.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturing establishments conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend informs economic and labor market analysis, as well as policy decisions related to wages, employment, and industrial development in Mississippi.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with potential delays in availability due to the survey collection process.
Related Trends
Average Weekly Earnings of All Employees: Private Service Providing in Mississippi
SMU28000000800000011
Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Mississippi
MSNMMPMANNGSP
Chain-Type Quantity Index for Real GDP: Information (51) in Mississippi
MSINFOQGSP
Residential Carbon Dioxide Emissions, Distillate Fuel for Mississippi
EMISSCO2VDFRCBMSA
Commercial Carbon Dioxide Emissions, Kerosene for Mississippi
EMISSCO2VKSCCBMSA
All Employees: Total Private in Mississippi
SMS28000000500000001
Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Manufacturing: Durable Goods in Mississippi (SMU28000003100000008A), retrieved from FRED.