Average Hourly Earnings of Production Employees: Manufacturing in Hawaii
SMU15000003000000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29.33
Year-over-Year Change
53.16%
Date Range
1/1/2001 - 1/1/2024
Summary
The Average Hourly Earnings of Production Employees: Manufacturing in Hawaii is a key economic indicator that measures the average hourly wage for manufacturing workers in the state of Hawaii. This metric provides insights into the state of the local labor market and cost of living.
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 tracks the average hourly earnings of production and nonsupervisory employees in the manufacturing sector in Hawaii. It is an important gauge of worker compensation and can signal changes in the broader economic conditions, including cost pressures and purchasing power.
Methodology
The data is collected through monthly surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by economists, policymakers, and businesses to assess the strength of the Hawaiian economy and make informed decisions.
Key Facts
- Hawaii's manufacturing sector employs over 14,000 workers.
- Average hourly earnings in Hawaii manufacturing are 10% higher than the national average.
- Earnings growth in this sector has outpaced inflation in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wage for production and nonsupervisory employees in the manufacturing sector in the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor costs and worker compensation in a key industry, which can signal broader economic conditions and cost-of-living trends in Hawaii.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of businesses by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by economists, policymakers, and businesses to assess the strength of the Hawaiian economy and make informed decisions.
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 Production Employees: Manufacturing in Hawaii (SMU15000003000000008A), retrieved from FRED.