Average Weekly Earnings of Production Employees: Manufacturing: Durable Goods in Pennsylvania
SMU42000003100000030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,166.06
Year-over-Year Change
58.81%
Date Range
1/1/2001 - 1/1/2024
Summary
This trend measures the average weekly earnings of production employees in the durable goods manufacturing sector in Pennsylvania. It provides insights into wage levels and economic conditions in this key industry.
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 Pennsylvania series tracks the average weekly pay for production workers in the durable goods manufacturing industry across the state. This metric offers a window into labor market dynamics and purchasing power within a critical component of the state's economy.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Economists and policymakers monitor this trend to assess the health of Pennsylvania's manufacturing sector and broader economic conditions.
Key Facts
- Manufacturing accounts for over 10% of Pennsylvania's GDP.
- Durable goods include products like machinery, electronics, and automobiles.
- Wages in this sector can signal the competitiveness and profitability of Pennsylvania industries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of production workers in the durable goods manufacturing sector in Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into wage levels and economic conditions in a critical industry for Pennsylvania'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: Economists and policymakers monitor this trend to assess the health of Pennsylvania's manufacturing sector and broader economic conditions.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and any limitations of the U.S. Bureau of Labor Statistics surveys.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of Production Employees: Manufacturing: Durable Goods in Pennsylvania (SMU42000003100000030A), retrieved from FRED.