Labor Compensation: Earnings: Manufacturing: Hourly for Luxembourg
LUXLCEAMN01GPSAM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.82
Year-over-Year Change
-162.69%
Date Range
2/1/1980 - 9/1/2024
Summary
This economic trend measures average hourly labor compensation in the manufacturing sector of Luxembourg. It provides insights into wage dynamics and production costs in a key industry.
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 Luxembourg series tracks the average hourly earnings of manufacturing workers. This metric is a key indicator of production costs and labor market conditions that economists and policymakers use to assess the broader economic environment.
Methodology
The data is collected through surveys of manufacturing establishments in Luxembourg.
Historical Context
This trend is relevant for understanding the competitiveness of Luxembourg's manufacturing sector and its integration with global supply chains.
Key Facts
- Luxembourg has a highly developed manufacturing sector.
- Manufacturing accounts for about 10% of Luxembourg's GDP.
- Hourly labor compensation in Luxembourg's manufacturing industry is among the highest in Europe.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly labor compensation, including wages and benefits, for workers in the manufacturing sector of Luxembourg.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into production costs and labor market dynamics in a key industry, which is important for assessing Luxembourg's economic competitiveness.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturing establishments in Luxembourg.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to evaluate the health of Luxembourg's manufacturing sector and its integration with global supply chains.
Q: Are there update delays or limitations?
A: There may be delays in data reporting and potential limitations in survey coverage, as with any economic statistic.
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Citation
U.S. Federal Reserve, Labor Compensation: Earnings: Manufacturing: Hourly for Luxembourg (LUXLCEAMN01GPSAM), retrieved from FRED.