Average Hourly Earnings of All Employees: Goods Producing in Connecticut
SMU09000000600000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40.40
Year-over-Year Change
2.72%
Date Range
1/1/2007 - 7/1/2025
Summary
The 'Average Hourly Earnings of All Employees: Goods Producing in Connecticut' measures the average hourly wage for workers in the goods-producing sector in Connecticut. This metric is a key indicator of labor market conditions and wage growth in the state's manufacturing and production industries.
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 series tracks the average hourly earnings of all employees, including both production and supervisory personnel, in the goods-producing industries within Connecticut. It provides insight into compensation trends and the overall strength of the state's industrial sector.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Economists and policymakers monitor this trend to assess the health of Connecticut's manufacturing base and guide decisions on economic policy.
Key Facts
- The series dates back to 1939.
- Connecticut is a major manufacturing hub in the Northeast.
- Hourly wages in the goods-producing sector impact consumer spending and business investment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of all employees, including both production and supervisory personnel, in the goods-producing industries within the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into compensation trends and the overall strength of Connecticut's industrial sector, which is crucial for assessing the state's economic health and guiding policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this trend to assess the health of Connecticut's manufacturing base and guide decisions on economic policy, such as workforce development, taxation, and investment incentives.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical one-month lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Goods Producing in Connecticut (SMU09000000600000003), retrieved from FRED.