Hourly Earnings: Earnings: Economic Activity: Manufacturing: Total Economy for Czechia
LCEAMN01CZA661N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
166.63
Year-over-Year Change
80.15%
Date Range
1/1/1993 - 1/1/2024
Summary
The 'Hourly Earnings: Earnings: Economic Activity: Manufacturing: Total Economy for Czechia' measures the average hourly earnings in the manufacturing sector of the Czech economy. This metric is a key indicator of labor market conditions and economic performance.
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 paid to workers in the Czech manufacturing industry. It provides insight into broader trends in labor costs, productivity, and competitiveness within the Czech economy.
Methodology
The data is collected through surveys of Czech employers and calculated as a weighted average of hourly earnings across the manufacturing sector.
Historical Context
Policymakers and analysts use this metric to assess the health of the Czech economy and guide decisions around labor policy and economic strategy.
Key Facts
- Czechia is a major manufacturing hub in Central Europe.
- Manufacturing accounts for over 30% of the Czech GDP.
- Hourly wages in Czech manufacturing have steadily increased over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of workers in the manufacturing sector of the Czech economy.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor market conditions, productivity, and economic competitiveness in the Czech manufacturing industry.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys and calculated as a weighted average of hourly earnings across the Czech manufacturing sector.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the health of the Czech economy and guide decisions around labor policy and economic strategy.
Q: Are there update delays or limitations?
A: The data is published on a regular schedule with minimal delays, providing a timely snapshot of conditions in the Czech manufacturing labor market.
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Citation
U.S. Federal Reserve, Hourly Earnings: Earnings: Economic Activity: Manufacturing: Total Economy for Czechia (LCEAMN01CZA661N), retrieved from FRED.