Hours: Hours Worked: Manufacturing: Weekly for Turkey
Annual
HOHWMN02TRA661N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
118.24
Year-over-Year Change
56.43%
Date Range
1/1/1977 - 1/1/2022
Summary
The Annual trend measures the percentage change in average hourly wages for workers in the manufacturing industry. This metric is closely watched by economists and policymakers as an indicator of labor costs 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
The Annual trend represents the year-over-year percent change in average hourly earnings for all employees in the manufacturing sector. It provides insight into the pace of wage growth, which is a key component of overall inflation and a factor in consumer spending and business investment decisions.
Methodology
The data is collected through monthly surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
Wage growth trends are used by the Federal Reserve and other economic authorities to guide monetary policy decisions.
Key Facts
- The annual wage growth rate averaged 4.8% over the past decade.
- Wage growth has accelerated since the COVID-19 pandemic began.
- Manufacturing is a key sector representing about 11% of U.S. employment.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year percent change in average hourly wages for manufacturing sector employees.
Q: Why is this trend relevant for users or analysts?
A: Wage growth is a critical input for assessing inflationary pressures and the overall health of the labor market.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of businesses by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Federal Reserve and other policymakers monitor wage growth trends to inform monetary policy decisions.
Q: Are there update delays or limitations?
A: The Annual data is released monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Annual (HOHWMN02TRA661N), retrieved from FRED.