Average Hourly Earnings of Production Employees: Durable Goods: Fabricated Metal Product Manufacturing in Indiana
SMU18000003133200008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26.18
Year-over-Year Change
58.19%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic trend measures the average hourly earnings of production employees in the fabricated metal product manufacturing industry in Indiana. It provides insights into labor costs and wage dynamics in this key manufacturing sector.
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 Production Employees: Durable Goods: Fabricated Metal Product Manufacturing in Indiana tracks the average hourly compensation paid to production workers in this important manufacturing subsector. This metric is used by economists and policymakers to analyze labor market trends and the competitive position of Indiana's manufacturing industry.
Methodology
The data is collected through surveys of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is relevant for understanding the state of Indiana's manufacturing economy and informing economic policies that impact the labor market.
Key Facts
- Indiana is a major hub for fabricated metal product manufacturing.
- Wages in this sector have seen steady growth in recent years.
- The trend is a key indicator of the competitive position of Indiana's manufacturing industry.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of production employees in the fabricated metal product manufacturing industry in the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into labor costs and wage dynamics in a key manufacturing sector, which is important for understanding the competitive position of Indiana's manufacturing industry.
Q: How is this data collected or calculated?
A: The data is collected through surveys of establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze labor market trends and inform economic policies that impact the manufacturing sector in Indiana.
Q: Are there update delays or limitations?
A: The data is published monthly with a short delay, and may be subject to revisions.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Durable Goods: Fabricated Metal Product Manufacturing in Indiana (SMU18000003133200008A), retrieved from FRED.