Labor Compensation: Earnings: Manufacturing: Hourly for Czech Republic
LCEAMN01CZQ659S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.11
Year-over-Year Change
105.28%
Date Range
1/1/1994 - 10/1/2024
Summary
This economic trend measures hourly labor compensation in the manufacturing sector of the Czech Republic. It provides insight into wage dynamics and productivity in a key industry.
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 Czech Republic metric tracks the average hourly wage of manufacturing workers. It is a valuable indicator of labor market conditions and overall economic competitiveness.
Methodology
This data is collected through surveys of Czech manufacturing firms by government statistical agencies.
Historical Context
Policymakers and analysts use this trend to evaluate the Czech Republic's economic performance and international trade position.
Key Facts
- Czech manufacturing wages have risen steadily over the past decade.
- Hourly labor compensation in Czech manufacturing exceeds the national average.
- Manufacturing is a key driver of the Czech economy, accounting for over a quarter of GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wage of workers in the manufacturing sector of the Czech Republic.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor market dynamics and productivity in a critical industry for the Czech economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Czech manufacturing firms by government statistical agencies.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to evaluate the Czech Republic's economic performance and international trade position.
Q: Are there update delays or limitations?
A: The data is published with a modest delay and may not capture the most recent economic conditions.
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Citation
U.S. Federal Reserve, Labor Compensation: Earnings: Manufacturing: Hourly for Czech Republic (LCEAMN01CZQ659S), retrieved from FRED.