Labor Compensation: Earnings: Manufacturing: Hourly for Canada
LCEAMN01CAQ189N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
30.24
Year-over-Year Change
12.84%
Date Range
1/1/1960 - 7/1/2023
Summary
This economic trend measures hourly labor compensation in the manufacturing sector of Canada. It provides valuable insights into labor market dynamics and the overall health of the Canadian 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
The Labor Compensation: Earnings: Manufacturing: Hourly for Canada series tracks changes in average hourly wages and benefits for manufacturing workers in Canada. It is a key indicator of labor market conditions and can inform policy decisions related to employment, inflation, and economic growth.
Methodology
The data is collected through surveys of Canadian businesses and calculated by the U.S. Federal Reserve.
Historical Context
This trend is closely monitored by economists, policymakers, and market analysts to assess the competitiveness of Canadian manufacturing and its broader macroeconomic implications.
Key Facts
- The series dates back to 1981.
- Canada is a major manufacturing hub in North America.
- Hourly labor compensation is a key driver of production costs.
FAQs
Q: What does this economic trend measure?
A: This trend measures average hourly wages and benefits for manufacturing workers in Canada, providing insights into labor market conditions in the sector.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the competitiveness of Canadian manufacturing, labor market dynamics, and broader macroeconomic factors that can inform policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Canadian businesses and calculated by the U.S. Federal Reserve.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and market analysts closely monitor this trend to assess the health of the Canadian manufacturing sector and its broader implications for the economy.
Q: Are there update delays or limitations?
A: The data is updated regularly by the U.S. Federal Reserve, but there may be some delays in reporting compared to real-time conditions.
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Citation
U.S. Federal Reserve, Labor Compensation: Earnings: Manufacturing: Hourly for Canada (LCEAMN01CAQ189N), retrieved from FRED.