Average Hourly Earnings of Production Employees: Manufacturing in North Carolina
SMU37000003000000008 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
23.48
Year-over-Year Change
0.64%
Date Range
1/1/2001 - 7/1/2025
Summary
The Average Hourly Earnings of Production Employees: Manufacturing in North Carolina measures the average hourly wage for manufacturing workers in the state. This economic indicator is important for understanding labor market trends and cost pressures facing manufacturers.
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 earnings of production and nonsupervisory employees in the manufacturing sector within North Carolina. It provides insight into compensation levels and changes over time, which can inform economic policy and business decisions.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is widely used by economists, policymakers, and businesses to assess labor market conditions and cost competitiveness in the manufacturing industry.
Key Facts
- North Carolina is a major manufacturing hub.
- Manufacturing accounts for over 12% of the state's GDP.
- Wages in this sector have grown by 3.2% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This series measures the average hourly earnings of production and nonsupervisory employees in the manufacturing sector within North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor compensation levels and trends, which are crucial for understanding manufacturing competitiveness and the overall health of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess labor market conditions, cost pressures, and the competitiveness of the manufacturing sector in North Carolina.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of 1-2 months.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Manufacturing in North Carolina (SMU37000003000000008), retrieved from FRED.