Average Weekly Earnings of All Employees: Manufacturing in Utah
SMU49000003000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,240.22
Year-over-Year Change
40.20%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Earnings of All Employees: Manufacturing in Utah measures the average weekly wages of manufacturing workers in the state of Utah. This metric provides insight into the economic health and purchasing power of a key industry within the state.
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 represents the average weekly earnings of all employees, including production and supervisory personnel, working in the manufacturing sector across the state of Utah. It is used by economists and policymakers to analyze trends in worker compensation and assess the broader economic conditions within the state.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in average manufacturing earnings can inform decisions around economic and workforce development policies.
Key Facts
- Utah's manufacturing sector accounts for over 10% of the state's GDP.
- Average weekly manufacturing earnings in Utah are consistently higher than the national average.
- Manufacturing wages have risen steadily in Utah over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all employees, including production and supervisory personnel, working in the manufacturing sector across the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: Trends in manufacturing earnings provide insight into the economic health and purchasing power of a key industry within the state, which is valuable information for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in average manufacturing earnings can inform decisions around economic and workforce development policies in Utah.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Manufacturing in Utah (SMU49000003000000011A), retrieved from FRED.