Monthly, Seasonally Adjusted
SMU22000004244600001SA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15.78
Year-over-Year Change
-2.26%
Date Range
1/1/2003 - 12/1/2022
Summary
The 'Monthly, Seasonally Adjusted' series tracks the hourly earnings of production and nonsupervisory employees in the manufacturing sector. This metric is a key indicator of labor market conditions and inflationary pressures in the U.S. economy.
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 measures the average hourly earnings of production and nonsupervisory employees in the manufacturing industry. It is a widely followed economic indicator that provides insight into wage growth, productivity, and the overall health of the labor market.
Methodology
The data is collected through surveys of establishments and calculated as a seasonally adjusted monthly average.
Historical Context
Manufacturing wages are closely monitored by policymakers, investors, and analysts to gauge the strength of the economy and guide decisions on monetary and fiscal policy.
Key Facts
- The series dates back to 1939.
- Manufacturing accounts for about 11% of total U.S. employment.
- Wage growth in manufacturing is seen as an important leading indicator.
FAQs
Q: What does this economic trend measure?
A: This series tracks the average hourly earnings of production and nonsupervisory employees in the U.S. manufacturing sector on a monthly, seasonally adjusted basis.
Q: Why is this trend relevant for users or analysts?
A: Manufacturing wages are a key indicator of labor market conditions, productivity, and inflationary pressures, making this series closely watched by policymakers, investors, and economists.
Q: How is this data collected or calculated?
A: The data is collected through surveys of establishments and calculated as a seasonally adjusted monthly average.
Q: How is this trend used in economic policy?
A: Trends in manufacturing wages are closely monitored by the Federal Reserve and other policymakers to guide decisions on monetary policy and assess the overall health of the economy.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical delay of 1-2 months. The series is subject to periodic revisions as new information becomes available.
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Citation
U.S. Federal Reserve, Monthly, Seasonally Adjusted (SMU22000004244600001SA), retrieved from FRED.