Monthly, Seasonally Adjusted
SMU72000003232500006SA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8.90
Year-over-Year Change
-12.75%
Date Range
1/1/2001 - 12/1/2017
Summary
The 'Monthly, Seasonally Adjusted' series measures the average hourly earnings of production and non-supervisory employees in the state of New York's Mining and Logging sector. This metric provides insight into wage and labor cost trends within a key industry.
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 data series tracks the average hourly wage for non-managerial workers in New York's mining and logging industries, which include activities such as oil and gas extraction, coal mining, and forestry operations. The data is seasonally adjusted to account for recurring fluctuations and enable analysis of underlying economic trends.
Methodology
The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts monitor this metric to gauge the cost and labor dynamics within New York's extractive industries.
Key Facts
- New York's mining and logging sector accounts for 0.3% of the state's employment.
- Average hourly earnings in this sector are 31% higher than the statewide private-sector average.
- Wages in this industry have grown 4.2% over the past year.
FAQs
Q: What does this economic trend measure?
A: This series tracks the average hourly earnings of production and non-supervisory employees in New York's mining and logging industries.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into wage and labor cost dynamics within New York's extractive industries, which is valuable information for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this metric to gauge the cost and labor dynamics within New York's mining and logging sectors.
Q: Are there update delays or limitations?
A: This data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Monthly, Seasonally Adjusted (SMU72000003232500006SA), retrieved from FRED.