Average Hourly Earnings of All Employees: Manufacturing in Utah
Annual
SMU49000003000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.13
Year-over-Year Change
44.93%
Date Range
1/1/2007 - 1/1/2024
Summary
This series measures the annual average of manufacturing employees in the U.S. It is a key indicator of economic health and labor market conditions.
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 manufacturing employment series tracks the average number of workers employed in the U.S. manufacturing sector over a 12-month period. This metric provides insights into production capacity, competitiveness, and the overall strength of the industrial economy.
Methodology
The data is collected through monthly surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Manufacturing employment is closely monitored by policymakers, economists, and investors to assess the state of the economy and guide decisions.
Key Facts
- U.S. manufacturing employed over 12.8 million workers in 2022.
- Manufacturing accounts for about 11% of total U.S. employment.
- Manufacturing productivity has grown by over 50% since 2000.
FAQs
Q: What does this economic trend measure?
A: This series tracks the annual average number of employees in the U.S. manufacturing sector, providing insights into production capacity and the health of the industrial economy.
Q: Why is this trend relevant for users or analysts?
A: Manufacturing employment is a key indicator used by policymakers, economists, and investors to assess the state of the economy and guide decisions.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of business establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Manufacturing employment is closely monitored by policymakers to understand the state of the industrial economy and inform decisions on economic policies and programs.
Q: Are there update delays or limitations?
A: The annual manufacturing employment data is published with a lag of several months, but it provides a comprehensive view of the sector's performance over the course of a year.
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Citation
U.S. Federal Reserve, Annual Manufacturing Employees (SMU49000003000000003A), retrieved from FRED.