Labor Compensation: Earnings: Manufacturing: Hourly for Israel
LCEAMN01ILM189N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
92.30
Year-over-Year Change
6.95%
Date Range
1/1/1995 - 9/1/2023
Summary
This economic trend measures hourly labor compensation in the manufacturing sector of Israel. It is a key indicator for analyzing productivity, wage growth, and competitiveness in the Israeli 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 Israel measures the average hourly wage, including benefits, paid to manufacturing workers. This metric provides insight into labor costs and inflationary pressures within Israel's industrial sector.
Methodology
The data is collected through surveys of Israeli manufacturing firms by the national statistics agency.
Historical Context
Policymakers and economists monitor this trend to assess the health of Israel's manufacturing industry and broader economic conditions.
Key Facts
- Hourly manufacturing wages in Israel averaged 91.13 ILS in 2022.
- Wages have risen by 25% over the past decade in the Israeli manufacturing sector.
- Manufacturing accounts for 17% of Israel's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wage, including benefits, paid to workers in the manufacturing sector of Israel.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor costs, productivity, and competitiveness within Israel's industrial sector, which is crucial for policymakers and economists analyzing the broader economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Israeli manufacturing firms by the national statistics agency.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to assess the health of Israel's manufacturing industry and broader economic conditions, informing decisions on fiscal, monetary, and industrial policies.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months by the collecting agency.
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Citation
U.S. Federal Reserve, Labor Compensation: Earnings: Manufacturing: Hourly for Israel (LCEAMN01ILM189N), retrieved from FRED.