Average Hourly Earnings of All Employees: Manufacturing in Delaware
SMU10000003000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
33.80
Year-over-Year Change
59.89%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Hourly Earnings of All Employees: Manufacturing in Delaware is an economic indicator that measures the average hourly wage paid to manufacturing workers in the state of Delaware. This metric is closely watched by economists and policymakers as it provides insights into the strength of the local labor market and wage trends.
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 series represents the average hourly earnings of all employees in the manufacturing sector in Delaware. It is a valuable indicator of economic conditions, as manufacturing wages often serve as a barometer for broader employment and income trends within a state or region.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to assess the competitiveness of Delaware's manufacturing industry and to inform decisions related to economic development, workforce planning, and wage policies.
Key Facts
- Delaware's manufacturing sector employs over 25,000 workers.
- Average hourly earnings in Delaware manufacturing have risen by 3.2% over the past year.
- Manufacturing accounts for approximately 8% of Delaware's total non-farm employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wage paid to employees in the manufacturing sector within the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the strength of Delaware's labor market and the competitiveness of its manufacturing industry, which is crucial for economic policymaking and business planning.
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: Policymakers and analysts use this metric to assess the competitiveness of Delaware's manufacturing industry and to inform decisions related to economic development, workforce planning, and wage policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Manufacturing in Delaware (SMU10000003000000003A), retrieved from FRED.