Hourly Earnings: Earnings: Economic Activity: Manufacturing: Total Economy for Norway
NORHOUREAQISMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
136.50
Year-over-Year Change
17.36%
Date Range
1/1/1959 - 1/1/2025
Summary
This economic trend measures average hourly earnings in the manufacturing sector of Norway's total economy. It is a key indicator of labor market conditions and wage growth.
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 Hourly Earnings: Earnings: Economic Activity: Manufacturing: Total Economy for Norway series tracks the average hourly compensation paid to workers in Norway's manufacturing industry. It is a widely used metric for assessing labor market strength and inflationary pressures.
Methodology
The data is collected through employer surveys and statistical sampling by Norway's statistical agencies.
Historical Context
This trend is closely monitored by policymakers, economists, and financial markets to gauge the health of Norway's economy.
Key Facts
- Norway's manufacturing sector accounts for over 15% of its GDP.
- Hourly wages in Norwegian manufacturing have risen by over 3% annually on average since 2015.
- Wage growth is a key input for the Norges Bank's monetary policy decisions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly compensation paid to workers in Norway's manufacturing industry, a key indicator of labor market conditions and wage growth.
Q: Why is this trend relevant for users or analysts?
A: This trend is closely watched by policymakers, economists, and markets to gauge the strength of Norway's economy and potential inflationary pressures.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys and statistical sampling by Norway's statistical agencies.
Q: How is this trend used in economic policy?
A: Wage growth metrics like this are a key input for the Norges Bank's monetary policy decisions, as they help assess inflationary pressures in the economy.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag, and may be subject to periodic revisions by the statistical agencies.
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Citation
U.S. Federal Reserve, Hourly Earnings: Earnings: Economic Activity: Manufacturing: Total Economy for Norway (NORHOUREAQISMEI), retrieved from FRED.