Average Weekly Earnings of Production Employees: Manufacturing in Rhode Island
SMU44000003000000030 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,053.29
Year-over-Year Change
0.18%
Date Range
1/1/2001 - 7/1/2025
Summary
This economic trend measures the average weekly earnings of production employees in the manufacturing sector of Rhode Island. It provides insights into wage levels and labor costs in the state's key 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 Weekly Earnings of Production Employees: Manufacturing in Rhode Island series tracks the average weekly pay for non-supervisory workers in the state's manufacturing sector. This metric is a crucial indicator of economic conditions and the competitiveness of Rhode Island's manufacturing industry.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and businesses use this trend to monitor labor market dynamics and labor costs in Rhode Island's manufacturing sector.
Key Facts
- Rhode Island's manufacturing sector accounts for over 10% of the state's GDP.
- The average weekly earnings in Rhode Island manufacturing have increased by 15% over the past 5 years.
- Manufacturing is the second-largest private employer in Rhode Island, providing jobs for over 40,000 workers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of production employees in the manufacturing sector of Rhode Island. It provides insights into wage levels and labor costs in the state's key industries.
Q: Why is this trend relevant for users or analysts?
A: This metric is a crucial indicator of economic conditions and the competitiveness of Rhode Island's manufacturing industry, which is a major driver 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 businesses use this trend to monitor labor market dynamics and labor costs in Rhode Island's manufacturing sector, which informs economic and workforce development decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of Production Employees: Manufacturing in Rhode Island (SMU44000003000000030), retrieved from FRED.