Labor Compensation: Earnings: Manufacturing: Hourly for Portugal
LCEAMN01PTM657S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.22
Year-over-Year Change
-25.87%
Date Range
2/1/2000 - 1/1/2024
Summary
This economic trend measures hourly labor compensation in the manufacturing sector of Portugal. It provides valuable insights into the cost of labor and productivity in a key industry for the Portuguese 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 Portugal series tracks the average hourly compensation, including wages and benefits, paid to workers in the Portuguese manufacturing industry. This metric is used by economists and policymakers to analyze labor market dynamics and inform economic policy decisions.
Methodology
The data is collected through surveys of businesses and other sources by the Portuguese statistical agency.
Historical Context
This trend is widely referenced by investors, analysts, and government officials to assess the competitiveness and productivity of the Portuguese manufacturing sector.
Key Facts
- Manufacturing accounts for over 20% of Portugal's GDP.
- Portugal's manufacturing productivity has grown by 2.5% annually over the past decade.
- Hourly labor costs in Portuguese manufacturing are around 75% of the EU average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly compensation, including wages and benefits, paid to workers in the manufacturing sector of Portugal.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the cost of labor and productivity in a key industry for the Portuguese economy, which is widely referenced by investors, analysts, and policymakers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and other sources by the Portuguese statistical agency.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze labor market dynamics and inform economic policy decisions related to the competitiveness and productivity of the Portuguese manufacturing sector.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedule and potential limitations of the Portuguese statistical agency's data collection process.
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Citation
U.S. Federal Reserve, Labor Compensation: Earnings: Manufacturing: Hourly for Portugal (LCEAMN01PTM657S), retrieved from FRED.