Labor Compensation: Earnings: Manufacturing: Hourly for Hungary
HUNLCEAMN01GPSAM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.98
Year-over-Year Change
-153.48%
Date Range
2/1/1995 - 4/1/2025
Summary
This economic indicator measures average hourly earnings in the manufacturing sector of Hungary, providing insights into labor compensation trends 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
The Labor Compensation: Earnings: Manufacturing: Hourly for Hungary series tracks the average hourly wage paid to manufacturing workers in the country. It is a key metric for assessing the labor market and cost-of-living dynamics that influence Hungary's economic competitiveness.
Methodology
The data is collected through surveys of manufacturing firms and compiled by the Hungarian Central Statistical Office.
Historical Context
Policymakers and analysts use this trend to evaluate Hungary's relative labor costs and productivity against other nations.
Key Facts
- Manufacturing accounts for over 20% of Hungary's GDP.
- Hourly wages in Hungarian manufacturing have risen over 50% in the past decade.
- Labor costs are a key factor in Hungary's industrial competitiveness.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the average hourly earnings of manufacturing workers in Hungary, providing insights into labor compensation and productivity in that sector.
Q: Why is this trend relevant for users or analysts?
A: The manufacturing earnings trend is a crucial metric for evaluating Hungary's economic competitiveness and the dynamics of its labor market.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturing firms and compiled by the Hungarian Central Statistical Office.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess Hungary's relative labor costs and productivity compared to other countries, informing trade, investment, and economic development strategies.
Q: Are there update delays or limitations?
A: There may be lags of several months in the availability of the most recent data, and the series may not capture all informal or unregistered labor activities.
Related Trends
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Producer Prices Index: Type of Goods: Non-Durable Consumer Goods: Total for Hungary
HUNPITGND01GPM
Infra-Annual Labor Statistics: Working-Age Population Total: 15 Years or over for Hungary
LFWATTTTHUA647S
Consumer Price Index: Harmonized Prices: All Items: Total for Hungary
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Citation
U.S. Federal Reserve, Labor Compensation: Earnings: Manufacturing: Hourly for Hungary (HUNLCEAMN01GPSAM), retrieved from FRED.