Nondurable Manufacturing Wages and Salaries in Minnesota
MNWNON • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,908,936.00
Year-over-Year Change
13.13%
Date Range
1/1/1998 - 1/1/2025
Summary
The Nondurable Manufacturing Wages and Salaries in Minnesota series measures the total compensation paid to workers in the nondurable manufacturing sector within the state of Minnesota. This metric is crucial for understanding the economic health and competitiveness of Minnesota's manufacturing 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
This data series tracks the overall wage and salary levels for employees in Minnesota's nondurable manufacturing industries, which include the production of items like food, textiles, and paper products. It provides insight into labor market trends and cost pressures facing manufacturers in the state.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through employer surveys.
Historical Context
Policymakers and business leaders use this metric to assess the competitiveness and outlook for Minnesota's manufacturing sector.
Key Facts
- Minnesota is a major manufacturing hub, accounting for over 300,000 jobs.
- Nondurable manufacturing makes up about 40% of the state's total manufacturing output.
- Wages in this sector have risen by 15% over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Nondurable Manufacturing Wages and Salaries in Minnesota series tracks the total compensation paid to workers in the state's nondurable manufacturing industries, including food, textiles, and paper products.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insight into labor market conditions and cost pressures facing manufacturers in Minnesota, which is a crucial sector for the state's economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through employer surveys.
Q: How is this trend used in economic policy?
A: Policymakers and business leaders use this metric to assess the competitiveness and outlook for Minnesota's manufacturing sector, which informs economic development strategies and workforce policies.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical delay of 1-2 months.
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Citation
U.S. Federal Reserve, Nondurable Manufacturing Wages and Salaries in Minnesota (MNWNON), retrieved from FRED.