All Employees: Retail Trade in Rhode Island
Annual, Not Seasonally Adjusted
SMU44000004200000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
47.30
Year-over-Year Change
0.85%
Date Range
1/1/1990 - 1/1/2024
Summary
This series measures the annual, not seasonally adjusted average hourly earnings of all employees in the manufacturing sector in the United States. It provides insights into wage trends and inflationary pressures in the broader economy.
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 annual, not seasonally adjusted average hourly earnings series tracks the average pay for manufacturing workers in the U.S. over a 12-month period. It is a key indicator of labor costs and can inform policy decisions and economic forecasting.
Methodology
The data is collected through the Current Employment Statistics (CES) survey, a monthly establishment survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to assess the strength of the labor market and inflationary pressures in the manufacturing sector and the broader economy.
Key Facts
- The average hourly earnings in U.S. manufacturing was $31.03 in January 2023.
- Wages in the manufacturing sector have risen by 4.8% over the past year.
- Manufacturing accounts for approximately 12% of total U.S. employment.
FAQs
Q: What does this economic trend measure?
A: This series measures the average hourly earnings of all employees in the manufacturing sector in the United States on an annual, not seasonally adjusted basis.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into wage trends and inflationary pressures in the manufacturing sector, which is a key driver of the broader U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey, a monthly establishment survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the strength of the labor market and inflationary pressures in the manufacturing sector and the broader economy.
Q: Are there update delays or limitations?
A: The data is released monthly with a one-month lag, and it does not take into account seasonal variations in earnings.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (SMU44000004200000001A), retrieved from FRED.