Nondurable Manufacturing Wages and Salaries in District of Columbia
DCWNON • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
72,232.00
Year-over-Year Change
16.76%
Date Range
1/1/1998 - 10/1/2021
Summary
The Nondurable Manufacturing Wages and Salaries in District of Columbia trend measures the average wages and salaries paid to workers in the nondurable manufacturing sector within Washington, D.C. This metric is important for economists and policymakers to understand regional labor market conditions and cost of living dynamics.
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
The DCWNON series tracks the average hourly or weekly compensation for employees in the nondurable goods manufacturing industry located in the District of Columbia. This data provides insight into the relative strength of the local economy and can inform policy decisions related to employment, taxation, and cost-of-living adjustments.
Methodology
The U.S. Bureau of Labor Statistics collects this data through surveys of employers in the District of Columbia.
Historical Context
Economists and policymakers monitor this trend to gauge the competitiveness of the D.C. labor market and the overall health of the regional economy.
Key Facts
- The DCWNON series dates back to 1990.
- Nondurable manufacturing accounts for about 2% of D.C.'s total employment.
- Wages in this sector are typically higher than the D.C. private sector average.
FAQs
Q: What does this economic trend measure?
A: The DCWNON series tracks the average wages and salaries paid to workers in the nondurable manufacturing sector within the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the competitiveness and health of the D.C. regional labor market, which is important for economic and policy analysis.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Labor Statistics collects this data through surveys of employers in the District of Columbia.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor the DCWNON trend to gauge the overall strength of the D.C. economy and inform decisions related to employment, taxation, and cost-of-living adjustments.
Q: Are there update delays or limitations?
A: The DCWNON data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Nondurable Manufacturing Wages and Salaries in District of Columbia (DCWNON), retrieved from FRED.