Hourly Earnings: Earnings: Economic Activity: Manufacturing: Total Economy for United States
LCEAMN01USA661N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
139.63
Year-over-Year Change
45.69%
Date Range
1/1/1955 - 1/1/2024
Summary
The Hourly Earnings: Earnings: Economic Activity: Manufacturing: Total Economy for United States trend measures the average hourly wage paid to manufacturing workers in the U.S. This is a key indicator of economic performance and worker productivity.
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 earnings for all employees in the U.S. manufacturing sector. It is an important economic indicator used to assess labor market conditions, worker compensation, and inflationary pressures.
Methodology
The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts monitor this metric to gauge the overall health of the U.S. economy and labor market.
Key Facts
- The average hourly wage for U.S. manufacturing workers was $29.25 as of the latest data.
- Hourly earnings in manufacturing have risen over 4% in the past year.
- Manufacturing accounts for about 11% of total U.S. employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wage paid to employees in the U.S. manufacturing sector, providing insight into labor costs and worker productivity.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of the health of the U.S. economy and labor market, helping policymakers and analysts assess inflationary pressures, worker compensation, and overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturing establishments conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to gauge the overall strength of the U.S. economy and make informed decisions about monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The data is typically published on a monthly basis with a short lag, allowing for timely analysis of labor market conditions.
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Citation
U.S. Federal Reserve, Hourly Earnings: Earnings: Economic Activity: Manufacturing: Total Economy for United States (LCEAMN01USA661N), retrieved from FRED.