Labor Compensation: Earnings: Manufacturing: Hourly for OECD
OECDLCEAMN01GYSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5.06
Year-over-Year Change
0.78%
Date Range
1/1/1990 - 1/1/2025
Summary
This economic trend measures average hourly labor compensation in the manufacturing sector across OECD countries. It is a key indicator of labor market conditions and inflationary pressures.
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 OECD series tracks the average hourly earnings of workers in the manufacturing industry across OECD member states. This metric provides insights into labor market dynamics and productivity that are crucial for economic analysis and policymaking.
Methodology
The data is collected through national labor force surveys and compiled by the OECD.
Historical Context
Trends in manufacturing labor compensation are closely monitored by central banks, governments, and market analysts to assess inflationary risks and the broader health of the economy.
Key Facts
- OECD tracks labor compensation in 37 member countries.
- Manufacturing is a key sector for economic growth and productivity.
- Hourly earnings data is a leading indicator of inflation.
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 across OECD countries.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor market dynamics, productivity, and inflationary pressures that are crucial for economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The data is collected through national labor force surveys and compiled by the OECD.
Q: How is this trend used in economic policy?
A: Trends in manufacturing labor compensation are closely monitored by central banks, governments, and market analysts to assess inflationary risks and the broader health of the economy.
Q: Are there update delays or limitations?
A: The OECD data may have some delay in reporting compared to more timely national sources, and it may not capture all aspects of labor compensation.
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Citation
U.S. Federal Reserve, Labor Compensation: Earnings: Manufacturing: Hourly for OECD (OECDLCEAMN01GYSAQ), retrieved from FRED.