Labor Compensation: Earnings: Industry: Hourly for Spain
LCEAIN01ESA189N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17.72
Year-over-Year Change
16.94%
Date Range
1/1/1981 - 1/1/2022
Summary
The 'Labor Compensation: Earnings: Industry: Hourly for Spain' trend measures the average hourly labor compensation in Spain's industrial sector. This metric is closely watched by economists as a key indicator of labor market conditions 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
This series tracks the average hourly wages and benefits paid to workers in Spain's industrial sector. It provides insight into productivity, labor costs, and overall economic performance. Policymakers and analysts use this data to assess the health of the Spanish labor market and broader economy.
Methodology
The data is collected through employer surveys and aggregated by the Spanish national statistical agency.
Historical Context
This metric is often used to inform monetary and fiscal policy decisions in Spain.
Key Facts
- Spain's industrial sector employs over 3 million workers.
- Hourly labor compensation has risen by 2.5% annually on average over the past decade.
- Industrial labor costs account for nearly 25% of Spain's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly labor compensation, including wages and benefits, paid to workers in Spain's industrial sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor market conditions, productivity, and inflationary pressures in the Spanish economy, which are important considerations for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys by the Spanish national statistical agency.
Q: How is this trend used in economic policy?
A: This trend is used by the Bank of Spain and other policymakers to inform monetary and fiscal policy decisions that aim to promote stable economic growth and employment.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 month lag. There may also be occasional revisions to historical data.
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Citation
U.S. Federal Reserve, Labor Compensation: Earnings: Industry: Hourly for Spain (LCEAIN01ESA189N), retrieved from FRED.