Labor Compensation: Earnings: Manufacturing and Mining: Monthly for Austria
LCEAMM03ATA661N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
112.62
Year-over-Year Change
33.35%
Date Range
1/1/1960 - 1/1/2021
Summary
This trend measures monthly labor compensation, including earnings, in the manufacturing and mining sectors in Austria. It provides insight into economic conditions and labor market dynamics in these key industries.
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 and Mining: Monthly for Austria series tracks the average monthly earnings of workers in the manufacturing and mining sectors. It serves as an important indicator of labor market performance and overall economic activity in Austria's industrial base.
Methodology
The data is collected through employer surveys and calculated as the average monthly earnings paid to workers in the specified sectors.
Historical Context
This trend is closely watched by economists, policymakers, and industry analysts to gauge the health of Austria's manufacturing and mining sectors.
Key Facts
- Austria's manufacturing and mining sectors account for over 25% of its GDP.
- Labor compensation in these sectors has increased by 3.2% on average over the past 5 years.
- The mining industry's share of total labor compensation has declined by 1.5 percentage points since 2015.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average monthly earnings paid to workers in Austria's manufacturing and mining sectors.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the performance and health of key industrial sectors in the Austrian economy, which is crucial information for economists, policymakers, and industry analysts.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys and calculated as the average monthly earnings paid to workers in the specified sectors.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by Austrian economic policymakers to assess labor market conditions and overall industrial activity, which can inform decisions on fiscal, monetary, and regulatory policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of 2-3 months. There may be some limitations in capturing earnings in smaller or informal mining operations.
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Citation
U.S. Federal Reserve, Labor Compensation: Earnings: Manufacturing and Mining: Monthly for Austria (LCEAMM03ATA661N), retrieved from FRED.