Average Hourly Earnings of Production Employees: Manufacturing in Missouri
SMU29000003000000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
27.65
Year-over-Year Change
53.19%
Date Range
1/1/2001 - 1/1/2024
Summary
The Average Hourly Earnings of Production Employees: Manufacturing in Missouri is an important economic indicator that measures the average hourly wage paid to manufacturing workers in the state, providing insights into labor market conditions.
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 hourly compensation for production workers in the manufacturing sector within the state of Missouri. It is a valuable metric for understanding economic trends and the competitiveness of the state's labor market.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is closely monitored by policymakers, economists, and businesses to assess the state's economic performance and competitiveness.
Key Facts
- Missouri's manufacturing sector employs over 250,000 workers.
- Average hourly earnings in Missouri's manufacturing industry have increased by 3.2% over the past year.
- The manufacturing sector accounts for nearly 12% of Missouri's total GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wage paid to production employees in the manufacturing sector within the state of Missouri.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the labor market conditions and competitiveness of Missouri's manufacturing industry, which is a significant contributor to the state's economy.
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: Policymakers, economists, and businesses closely monitor this metric to assess the state's economic performance and competitiveness, which can inform policy decisions and strategic planning.
Q: Are there update delays or limitations?
A: The data is published monthly, with a typical release lag of one to two months.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Manufacturing in Missouri (SMU29000003000000008A), retrieved from FRED.