Average Hourly Earnings of All Employees: Goods Producing in Montana
SMU30000000600000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.78
Year-over-Year Change
37.79%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Hourly Earnings of All Employees: Goods Producing in Montana tracks the average hourly wages for workers in the goods-producing industry in the state of Montana. This metric is a key indicator of economic conditions and worker compensation.
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 data series represents the average hourly earnings for all employees in the goods-producing industries in Montana, which includes manufacturing, construction, and mining. It is a useful indicator of labor market trends and worker purchasing power in the state.
Methodology
The data is collected through surveys of employers conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists monitor this metric to assess the strength of the Montana labor market and make informed decisions about economic policies.
Key Facts
- Montana's goods-producing sector accounts for approximately 15% of total employment.
- Hourly wages in Montana's goods-producing industries are typically higher than the state's overall average.
- This data series has been tracked by the U.S. Bureau of Labor Statistics since the early 2000s.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of all employees in the goods-producing industries in the state of Montana, including manufacturing, construction, and mining.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of labor market conditions and worker compensation in Montana's core goods-producing sectors, providing insights into the state's economic performance.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted 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 assess the strength of Montana's labor market and make informed decisions about economic policies that impact the goods-producing industries.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, with a typical release lag of 1-2 months. There may be limitations in sample size or coverage for smaller geographic areas.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Goods Producing in Montana (SMU30000000600000003A), retrieved from FRED.