Monthly, Seasonally Adjusted
SMU72000004244800001SA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15.39
Year-over-Year Change
8.54%
Date Range
1/1/1990 - 12/1/2022
Summary
The Monthly, Seasonally Adjusted series measures average hourly earnings for employees in the manufacturing industry in the U.S. This metric is a key indicator of 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 represents the average hourly wage for production and non-supervisory employees in manufacturing, one of the largest sectors of the U.S. economy. Economists and policymakers monitor this data to assess the strength of the labor market and inflationary pressures.
Methodology
The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in manufacturing wages provide insights into the broader state of the economy and help inform monetary and fiscal policy decisions.
Key Facts
- Manufacturing accounts for over 11% of U.S. GDP.
- Wages make up a significant portion of manufacturing costs.
- Wage growth in manufacturing often leads overall wage trends.
FAQs
Q: What does this economic trend measure?
A: This series measures the average hourly wage for production and non-supervisory employees in the U.S. manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: Manufacturing wages are an important indicator of labor market conditions and inflationary pressures, providing insights for economists and policymakers.
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: Trends in manufacturing wages help inform monetary and fiscal policy decisions, as they provide insights into the broader state of the economy.
Q: Are there update delays or limitations?
A: The data is published monthly by the Bureau of Labor Statistics, with a typical release lag of around one month.
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Citation
U.S. Federal Reserve, Monthly, Seasonally Adjusted (SMU72000004244800001SA), retrieved from FRED.