Average Weekly Earnings of All Employees: Goods Producing in South Carolina
SMU45000000600000011 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,412.38
Year-over-Year Change
4.23%
Date Range
1/1/2007 - 7/1/2025
Summary
The 'Average Weekly Earnings of All Employees: Goods Producing in South Carolina' measures the average weekly earnings for production and non-supervisory workers in the goods-producing sector of South Carolina's economy. It is an important economic indicator that provides insights into labor market conditions and wage growth.
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 employees in the goods-producing industries of South Carolina, which include manufacturing, mining, and construction. It is used by economists and policymakers to assess the strength of the state's economy and monitor trends in worker compensation.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to gauge the overall health of South Carolina's labor market and inform economic policy decisions.
Key Facts
- South Carolina's average weekly earnings in the goods-producing sector were $945 as of the latest data.
- Manufacturing accounts for the largest share of goods-producing employment in South Carolina.
- Wage growth in the goods-producing sector has outpaced the national average in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings for production and non-supervisory workers in the goods-producing industries of South Carolina, including manufacturing, mining, and construction.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor market conditions and wage growth in South Carolina's key goods-producing sectors, which is important for assessing the overall health of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers 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 gauge the strength of South Carolina's labor market and inform economic policy decisions.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, but may be subject to revisions and delays due to the survey-based collection process.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Goods Producing in South Carolina (SMU45000000600000011), retrieved from FRED.