Average Weekly Earnings of Production Employees: Manufacturing: Durable Goods in Rhode Island
SMU44000003100000030 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
910.97
Year-over-Year Change
-3.94%
Date Range
1/1/2001 - 7/1/2025
Summary
This economic trend measures the average weekly earnings of production employees in the durable goods manufacturing sector in Rhode Island. It provides insights into wage trends 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 Rhode Island indicator tracks changes in the average weekly pay for non-supervisory workers in durable goods manufacturing within the state. This metric is used by economists and policymakers to assess labor market conditions and purchasing power.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is relevant for understanding the economic health of Rhode Island's manufacturing sector and its competitiveness.
Key Facts
- Rhode Island's durable goods manufacturing sector employs over 40,000 workers.
- The average weekly earnings in this sector have increased by 15% over the past decade.
- Durable goods manufacturing accounts for nearly 10% of Rhode Island's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of production employees in the durable goods manufacturing sector in Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into wage trends and economic conditions in Rhode Island's key manufacturing industry, which is important for understanding the state's overall economic health and competitiveness.
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: This trend is used by economists and policymakers to assess labor market conditions and purchasing power in Rhode Island's manufacturing sector, which can inform economic and workforce development policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag, and may be subject to revision.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of Production Employees: Manufacturing: Durable Goods in Rhode Island (SMU44000003100000030), retrieved from FRED.