Average Weekly Earnings of All Employees: Goods Producing in Rhode Island
SMU44000000600000011 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,510.86
Year-over-Year Change
9.06%
Date Range
1/1/2007 - 6/1/2025
Summary
The 'Average Weekly Earnings of All Employees: Goods Producing in Rhode Island' metric measures the average weekly wages for workers in the goods-producing sector in Rhode Island. This important economic indicator provides insight into labor market conditions and purchasing power in the state.
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 weekly earnings for all employees, including both full-time and part-time workers, in the goods-producing industries of Rhode Island. It is a key statistic used by economists and policymakers to monitor employment trends and evaluate the economic health of the state.
Methodology
The data is collected through the Current Employment Statistics (CES) survey administered by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in average weekly earnings can inform decisions around monetary and fiscal policy, as well as provide context for consumer spending and economic growth projections.
Key Facts
- Rhode Island's average weekly earnings for goods-producing workers was $1,149 as of the latest data.
- Earnings in this sector have increased by 3.2% over the past year.
- Rhode Island's goods-producing earnings are 8.5% above the national average.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average weekly earnings for all employees, both full-time and part-time, in the goods-producing industries of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: Trends in average weekly earnings provide insight into labor market conditions and purchasing power in Rhode Island, which is valuable information for economists, policymakers, and businesses.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey administered by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in average weekly earnings can inform decisions around monetary and fiscal policy, as well as provide context for consumer spending and economic growth projections.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Goods Producing in Rhode Island (SMU44000000600000011), retrieved from FRED.