Average Hourly Earnings of All Employees: Goods Producing in North Carolina
SMU37000000600000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
33.24
Year-over-Year Change
4.73%
Date Range
1/1/2007 - 6/1/2025
Summary
This economic trend measures the average hourly earnings of all employees in the goods-producing sector in North Carolina. It is a key indicator of labor market conditions and wage growth in the state's manufacturing, mining, and construction industries.
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 All Employees: Goods Producing in North Carolina is a monthly data series published by the U.S. Bureau of Labor Statistics. It provides insights into how wages are changing for workers in the state's goods-producing industries, which can inform assessments of economic performance and inform policy decisions.
Methodology
The data is collected through employer surveys and calculated as the average hourly wage paid to all employees in the goods-producing sector in North Carolina.
Historical Context
This metric is widely tracked by economists, policymakers, and businesses to gauge North Carolina's economic health and competitiveness.
Key Facts
- North Carolina is a major manufacturing hub in the Southeast.
- Wages in the goods-producing sector impact household incomes and consumer spending.
- This metric can signal changes in labor market tightness and cost pressures.
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 North Carolina, including manufacturing, mining, and construction.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into wage growth and labor market conditions in North Carolina's crucial goods-producing sector, which can inform economic assessments and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys and calculated as the average hourly wage paid to all employees in the goods-producing sector in North Carolina.
Q: How is this trend used in economic policy?
A: Policymakers, businesses, and economists track this metric to gauge North Carolina's economic health and competitiveness, and to inform decisions around workforce development, taxation, and other policies.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical lag of several weeks. There may be revisions to previous months' data as more information becomes available.
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Citation
U.S. Bureau of Labor Statistics, Average Hourly Earnings of All Employees: Goods Producing in North Carolina (SMU37000000600000003), retrieved from FRED.