Labor Compensation: Earnings: Manufacturing: Hourly for United States
LCEAMN01USM189N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26.96
Year-over-Year Change
5.27%
Date Range
1/1/1960 - 11/1/2023
Summary
This metric measures the average hourly earnings of manufacturing workers in the United States, providing insight into labor compensation trends in the manufacturing sector.
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 United States series tracks the average hourly pay of production and non-supervisory employees in the U.S. manufacturing industry. This data is closely monitored by economists and policymakers to assess inflationary pressures and the health of the manufacturing labor market.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Current Employment Statistics (CES) survey.
Historical Context
Changes in manufacturing hourly earnings can inform Federal Reserve monetary policy decisions and provide signals about the broader U.S. economic outlook.
Key Facts
- U.S. manufacturing hourly earnings averaged $29.07 as of the latest data.
- Earnings have risen by 6.2% over the past 12 months.
- The manufacturing sector accounts for about 12% of total U.S. employment.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average hourly pay of production and non-supervisory employees in the U.S. manufacturing industry.
Q: Why is this trend relevant for users or analysts?
A: Changes in manufacturing hourly earnings provide insights into labor market conditions, inflationary pressures, and the broader health of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Current Employment Statistics (CES) survey.
Q: How is this trend used in economic policy?
A: Movements in manufacturing hourly earnings can inform Federal Reserve monetary policy decisions and signal the overall direction of the U.S. economy.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-month lag from the reference period.
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Citation
U.S. Federal Reserve, Labor Compensation: Earnings: Manufacturing: Hourly for United States (LCEAMN01USM189N), retrieved from FRED.