Average Hourly Earnings of Production Employees: Manufacturing: Non-Durable Goods in Louisiana
SMU22000003200000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.38
Year-over-Year Change
59.98%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic trend measures the average hourly earnings of production employees in the non-durable goods manufacturing sector in Louisiana. It is a key indicator of labor costs and worker compensation in a critical industry.
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: Manufacturing: Non-Durable Goods in Louisiana metric provides insights into wage trends for manufacturing workers in Louisiana's non-durable goods industries, which include food, textiles, and other perishable products.
Methodology
The data is collected through monthly surveys of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely watched by policymakers, economists, and business leaders to assess the state of the Louisiana manufacturing sector and labor market.
Key Facts
- Louisiana's non-durable goods manufacturing employs over 60,000 workers.
- Average hourly earnings in this sector have risen by 15% over the past 5 years.
- Manufacturing accounts for 12% of Louisiana's total GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of production employees in the non-durable goods manufacturing sector in Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into labor costs and worker compensation in a critical industry for Louisiana's economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is closely watched by policymakers, economists, and business leaders to assess the state of the Louisiana manufacturing sector and labor market.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Manufacturing: Non-Durable Goods in Louisiana (SMU22000003200000008A), retrieved from FRED.