Average Weekly Earnings of Production Employees: Manufacturing: Durable Goods in Alabama
SMU01000003100000030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,006.54
Year-over-Year Change
22.96%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic trend measures the average weekly earnings of production employees in the durable goods manufacturing sector in Alabama. It provides important insights into the state's labor market and economic conditions.
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 Average Weekly Earnings of Production Employees: Manufacturing: Durable Goods in Alabama metric tracks the average weekly compensation for workers in the durable goods manufacturing industry within the state. This data point is a key indicator of labor costs and productivity in a major economic sector.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is used by economists, policymakers, and businesses to analyze Alabama's manufacturing industry and labor market dynamics.
Key Facts
- Alabama's durable goods manufacturing sector employs over 250,000 workers.
- The average weekly earnings in this industry have risen by 15% over the past decade.
- Durable goods manufacturing accounts for nearly 20% of Alabama's total economic output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of production employees in the durable goods manufacturing sector within the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into labor costs, productivity, and economic conditions in a key industry in Alabama.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and businesses use this trend to analyze the manufacturing industry and labor market dynamics in Alabama.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of Production Employees: Manufacturing: Durable Goods in Alabama (SMU01000003100000030A), retrieved from FRED.