Average Weekly Earnings of Production Employees: Manufacturing: Durable Goods in Missouri
SMU29000003100000030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,297.94
Year-over-Year Change
65.00%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic trend tracks the average weekly earnings of production employees in the manufacturing of durable goods in Missouri. It provides valuable insights into the compensation levels and purchasing power of this key segment of the state's workforce.
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 Weekly Earnings of Production Employees: Manufacturing: Durable Goods in Missouri metric measures the average weekly compensation for production workers in the durable goods manufacturing industry within the state. This metric is used by economists and policymakers to gauge trends in worker compensation, labor costs, and the overall economic health of Missouri's manufacturing sector.
Methodology
The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by state and federal officials to inform policy decisions related to economic development, workforce training, and regional competitiveness.
Key Facts
- Missouri is a leading manufacturer of durable goods, including transportation equipment, machinery, and electrical equipment.
- Durable goods production accounts for over 20% of Missouri's total GDP.
- Average weekly earnings in Missouri's durable goods manufacturing have risen by 15% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of production employees in the manufacturing of durable goods within the state of Missouri.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into labor costs, worker purchasing power, and the overall health of Missouri's crucial manufacturing sector.
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: Policymakers and economists use this trend to inform decisions related to economic development, workforce training, and regional competitiveness in Missouri.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical 1-2 month delay from the reference period.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of Production Employees: Manufacturing: Durable Goods in Missouri (SMU29000003100000030A), retrieved from FRED.