Durable Manufacturing Wages and Salaries in Rhode Island
RIWDUR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,985,520.00
Year-over-Year Change
10.59%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Durable Manufacturing Wages and Salaries in Rhode Island' economic trend measures the average earnings of workers in the durable goods manufacturing sector of the Rhode Island economy. This data provides insights into labor costs and productivity.
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 economic indicator tracks the average hourly and weekly wages for production and non-supervisory employees in the durable goods manufacturing industry in the state of Rhode Island. It is a key metric for understanding labor market conditions and trends in a crucial segment of the state's economy.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists use this data to assess the health of Rhode Island's manufacturing sector and make informed decisions.
Key Facts
- Rhode Island is a major hub for durable goods manufacturing.
- Wages in this sector have risen steadily over the past decade.
- Durable manufacturing accounts for a significant portion of the state's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly and weekly wages for production and non-supervisory employees in the durable goods manufacturing industry in Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into labor costs and productivity in a crucial segment of Rhode Island's economy, which is important for policymakers and economists assessing the state's economic health.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to assess the health of Rhode Island's manufacturing sector and make informed decisions.
Q: Are there update delays or limitations?
A: The data is subject to the typical publication delays of government statistical releases.
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Citation
U.S. Federal Reserve, Durable Manufacturing Wages and Salaries in Rhode Island (RIWDUR), retrieved from FRED.