Durable Manufacturing Earnings in Rhode Island
RIEDUR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,544,751.00
Year-over-Year Change
10.32%
Date Range
1/1/1998 - 1/1/2025
Summary
The Durable Manufacturing Earnings in Rhode Island measures the average weekly earnings of employees in the durable goods manufacturing sector within the state. This metric provides insight into the economic health and wages of an important 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
Durable goods are products designed to last and have a long useful life, such as machinery, electronics, and transportation equipment. The earnings data in this series reflects employment and wage trends in Rhode Island's durable manufacturing sector, which is a key driver of the state's economy.
Methodology
The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
Analysts and policymakers monitor this trend to gauge the strength of Rhode Island's manufacturing base and broader economic conditions.
Key Facts
- Rhode Island's durable manufacturing sector employs over 40,000 workers.
- Average weekly earnings in this sector are around $1,200.
- Durable manufacturing accounts for 10% of Rhode Island's GDP.
FAQs
Q: What does this economic trend measure?
A: The Durable Manufacturing Earnings in Rhode Island series measures the average weekly earnings of employees in the state's durable goods manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the economic health and wage levels of an important industry within Rhode Island, which can inform analysis of the state's broader economic conditions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Analysts and policymakers monitor this trend to gauge the strength of Rhode Island's manufacturing base, which is a key driver of the state's economy.
Q: Are there update delays or limitations?
A: The data is published with a typical lag of 1-2 months from the reference period.
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Citation
U.S. Federal Reserve, Durable Manufacturing Earnings in Rhode Island (RIEDUR), retrieved from FRED.