Monthly, Seasonally Adjusted
SMU72000003231100008SA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11.00
Year-over-Year Change
8.91%
Date Range
1/1/2001 - 12/1/2017
Summary
The 'Monthly, Seasonally Adjusted' economic trend measures the average hourly earnings of production and nonsupervisory employees in the manufacturing industry. This data provides insight into wage growth and inflationary pressures.
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 changes in nominal hourly wages for manufacturing workers, a key indicator of labor costs and overall economic conditions. Analysts use this data to assess the strength of the labor market and make inferences about the broader trajectory of the economy.
Methodology
The data is collected through monthly surveys of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers at the Federal Reserve closely monitor this metric to inform monetary policy decisions.
Key Facts
- Manufacturing accounts for about 12% of U.S. GDP.
- Wage growth has outpaced inflation in recent years.
- Hourly earnings in manufacturing are typically higher than the private sector average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of production and nonsupervisory employees in the U.S. manufacturing industry, a key indicator of labor costs and wage growth.
Q: Why is this trend relevant for users or analysts?
A: Manufacturing wages are an important barometer of overall economic conditions and inflationary pressures. This data helps analysts and policymakers assess the strength of the labor market and make informed decisions.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Federal Reserve closely monitors this metric to inform monetary policy decisions, as manufacturing wages can signal broader labor market trends and inflationary pressures.
Q: Are there update delays or limitations?
A: The data is published monthly with a short lag, providing timely insights into the state of the manufacturing labor market.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production and Nonsupervisory Employees: Manufacturing (SMU72000003231100008SA), retrieved from FRED.