Hourly Earnings: Earnings: Economic Activity: Manufacturing: Total Economy for Australia
LCEAMN01AUQ661S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
132.55
Year-over-Year Change
15.87%
Date Range
10/1/1983 - 10/1/2024
Summary
The Hourly Earnings: Earnings: Economic Activity: Manufacturing: Total Economy for Australia measures the average hourly wages paid to workers in the manufacturing sector across the Australian economy.
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 provides insights into the labor costs and productivity of the Australian manufacturing industry, which is a key driver of the country's economic growth and international competitiveness.
Methodology
The data is collected through surveys of employers by the Australian Bureau of Statistics.
Historical Context
Policymakers and analysts use this metric to assess inflationary pressures and the overall health of the Australian economy.
Key Facts
- Australia is one of the world's largest manufacturing exporters.
- Manufacturing accounts for around 6% of Australia's GDP.
- Hourly wages in Australian manufacturing have risen by over 25% in the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric measures the average hourly wages paid to workers in the manufacturing sector across the Australian economy.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into labor costs and productivity in a key driver of Australia's economic growth, which is useful for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the Australian Bureau of Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess inflationary pressures and the overall health of the Australian economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical 3-month lag.
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Real Statistical Discrepancy for Australia
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Citation
U.S. Federal Reserve, Hourly Earnings: Earnings: Economic Activity: Manufacturing: Total Economy for Australia (LCEAMN01AUQ661S), retrieved from FRED.