Labor Compensation: Earnings: Manufacturing: Hourly for United States
LCEAMN01USQ659S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.39
Year-over-Year Change
-20.40%
Date Range
1/1/1956 - 4/1/2025
Summary
The Labor Compensation: Earnings: Manufacturing: Hourly for United States measures the average hourly earnings of manufacturing production and nonsupervisory employees. This metric is a key indicator of labor market conditions and inflationary pressures within 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
This series tracks the average hourly compensation, including wages and benefits, for workers in the U.S. manufacturing industry. It is an important gauge of labor costs and worker productivity, which economists and policymakers use to assess the health of the overall economy.
Methodology
The data is collected through the Current Employment Statistics (CES) survey of business establishments.
Historical Context
Analysts monitor this metric to understand the economic environment and inform monetary and fiscal policy decisions.
Key Facts
- Manufacturing accounts for about 11% of U.S. GDP.
- Hourly earnings in manufacturing have risen by over 50% since 2000.
- The COVID-19 pandemic caused a sharp decline in manufacturing earnings in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings, including wages and benefits, for production and nonsupervisory employees in the U.S. manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of labor costs and worker productivity within the manufacturing industry, which is a critical driver of the overall U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey of business establishments.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this metric to assess labor market conditions, inflationary pressures, and the overall health of the manufacturing sector, which informs monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Labor Compensation: Earnings: Manufacturing: Hourly for United States (LCEAMN01USQ659S), retrieved from FRED.