Average Hourly Earnings of All Employees: Goods Producing in Delaware
SMU10000000600000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36.08
Year-over-Year Change
49.52%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic trend measures the average hourly earnings of all employees in the goods-producing sector in Delaware. It provides insights into the labor market and wage dynamics within the state's manufacturing and industrial base.
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 Hourly Earnings of All Employees: Goods Producing in Delaware is a key indicator of the compensation levels for workers in the state's goods-producing industries, which include manufacturing, construction, and mining. This metric is closely watched by economists and policymakers to gauge inflationary pressures and the overall health of the state's economy.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is used to inform economic policy decisions and provide context for market analysts assessing Delaware's economic performance.
Key Facts
- Delaware's goods-producing sector accounts for over 15% of the state's total employment.
- Average hourly earnings in Delaware's goods-producing industries are typically higher than the national average.
- The trend in average hourly earnings can signal changes in the state's economic competitiveness and labor market conditions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of all employees in the goods-producing sector in the state of Delaware, including manufacturing, construction, and mining.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the compensation levels and labor market dynamics within Delaware's industrial base, which is an important driver of the state's economy.
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: Policymakers and analysts use this trend to assess inflationary pressures, labor market conditions, and the overall health of Delaware's economy.
Q: Are there update delays or limitations?
A: The data is typically published with a one-month lag and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Goods Producing in Delaware (SMU10000000600000003A), retrieved from FRED.