Average Hourly Earnings of Production Employees: Manufacturing in Massachusetts
Annual
SMU25000003000000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
28.73
Year-over-Year Change
37.27%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual trend measures changes in state-level employment over time. It is a key indicator used by economists and policymakers to understand labor market dynamics.
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 Annual trend tracks year-over-year changes in total nonfarm employment for a specific U.S. state. It provides a high-level overview of the health and direction of the state's labor market.
Methodology
The data is collected through a monthly survey of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is used to inform economic policy decisions and business investment strategies.
Key Facts
- Annual employment growth slowed to 1.2% in 2022.
- Over 50% of U.S. states saw positive annual job growth in 2022.
- The Annual trend is released monthly with a 1-month lag.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures year-over-year changes in total nonfarm employment for a specific U.S. state.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend provides insight into the overall health and direction of a state's labor market, which is crucial for economic policymaking and business decision-making.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Annual trend is used by economists and policymakers to inform decisions related to employment, workforce development, and economic growth strategies.
Q: Are there update delays or limitations?
A: The Annual trend is released monthly with a 1-month lag, meaning the most recent data is always slightly behind the current period.
Related Trends
Regional Price Parities: Services: Other for Massachusetts
MARPPSERVEOTH
Chain-Type Quantity Index for Real GDP: Information (51) in Massachusetts
MAINFOQQGSP
Gross Domestic Product: Publishing Industries (Except Internet) (511) in Massachusetts
MAPUBINDNGSP
All Employees: Professional and Business Services: Computer Systems Design and Related Services in Massachusetts
SMU25000006054150001
All Employees: Health Care: Hospitals in Massachusetts
SMU25000006562200001A
All Employees: Education and Health Services: Child Care Services in Massachusetts
SMU25000006562440001SA
Citation
U.S. Federal Reserve, Annual (SMU25000003000000008A), retrieved from FRED.