Monthly, Seasonally Adjusted
SMU72000004245200001SA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
24.58
Year-over-Year Change
0.97%
Date Range
1/1/1990 - 12/1/2022
Summary
The 'Monthly, Seasonally Adjusted' economic trend measures changes in average hourly earnings for production and nonsupervisory employees in the manufacturing industry. It provides insights into labor costs and productivity.
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 monthly indicator tracks the average hourly wage for manufacturing workers, which is a key economic metric used to monitor inflationary pressures, labor market dynamics, and overall business conditions.
Methodology
The data is collected through employer surveys and seasonally adjusted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts closely follow this indicator to assess the health of the manufacturing sector and broader economy.
Key Facts
- Manufacturing accounts for about 11% of U.S. GDP.
- Wages make up over two-thirds of total manufacturing costs.
- Wage growth in manufacturing has trended higher since the 2008-2009 recession.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the average hourly wage for production and nonsupervisory employees in the U.S. manufacturing industry.
Q: Why is this trend relevant for users or analysts?
A: Manufacturing wages are a key indicator of labor costs, productivity, and inflationary pressures in the broader economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly employer surveys and seasonally adjusted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor this indicator to assess the health of the manufacturing sector and make informed decisions about monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical 1-2 month lag, and may be subject to revisions based on new information.
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Citation
U.S. Federal Reserve, Monthly, Seasonally Adjusted (SMU72000004245200001SA), retrieved from FRED.