Mining Wages and Salaries in Minnesota
MNWMIN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
734,832.00
Year-over-Year Change
3.09%
Date Range
1/1/1998 - 1/1/2025
Summary
The Mining Wages and Salaries in Minnesota trend measures the average earnings of workers in the mining industry within the state of Minnesota. This metric is important for economists and policymakers to understand labor market dynamics and cost pressures in the mining 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 Mining Wages and Salaries in Minnesota series tracks the average hourly and weekly earnings of production and nonsupervisory employees in the mining industry across the state. This data provides insights into compensation levels and trends within a key economic sector.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Monitoring mining wages helps inform decisions around economic policy, workforce development, and business investment strategies.
Key Facts
- Mining is a major employer in Minnesota.
- Wages in the Minnesota mining sector tend to be higher than the state average.
- Mining wage data helps track economic competitiveness and cost pressures.
FAQs
Q: What does this economic trend measure?
A: The Mining Wages and Salaries in Minnesota trend measures the average hourly and weekly earnings of production and nonsupervisory employees in the state's mining industry.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into compensation levels and trends within a key economic sector, which is relevant for understanding labor market dynamics, cost pressures, and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Monitoring mining wages helps inform decisions around economic policy, workforce development, and business investment strategies.
Q: Are there update delays or limitations?
A: The mining wage data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Mining Wages and Salaries in Minnesota (MNWMIN), retrieved from FRED.