Average Hourly Earnings of Production Employees: Manufacturing: Durable Goods in Missouri
SMU29000003100000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
30.83
Year-over-Year Change
65.40%
Date Range
1/1/2001 - 1/1/2024
Summary
This trend measures the average hourly earnings of production employees in the durable goods manufacturing sector in Missouri. It provides insights into wage trends and labor market conditions in a key economic region.
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 Missouri is an economic indicator that tracks changes in the typical hourly wage paid to manufacturing workers in the state's durable goods industries. It serves as a barometer of labor costs and can inform policy decisions and business strategies.
Methodology
The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is widely used by economists, policymakers, and businesses to assess the economic health and competitiveness of Missouri's manufacturing sector.
Key Facts
- Missouri is a major hub for durable goods manufacturing.
- Wage trends in this sector can impact the state's overall economic performance.
- The data is released monthly by the U.S. Bureau of Labor Statistics.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wage paid to production workers in Missouri's durable goods manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor costs and the competitiveness of Missouri's manufacturing industry, which is crucial for economic policymaking and business planning.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers analyze this metric to assess the health of Missouri's manufacturing sector and inform decisions around labor, trade, and economic development policies.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical delay of several weeks. There may be limitations due to survey coverage or sampling variability.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Manufacturing: Durable Goods in Missouri (SMU29000003100000008A), retrieved from FRED.