All Employees: Professional and Business Services in Massachusetts
Annual, Not Seasonally Adjusted
SMU25000006000000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
627.20
Year-over-Year Change
25.57%
Date Range
1/1/1990 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' series measures the average hourly earnings for all employees in the manufacturing sector of the U.S. economy. This metric is a key indicator of wage growth and inflationary pressures.
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 pay for manufacturing workers across the United States. It is a widely followed data point that provides insight into broader labor market conditions and the health of the industrial sector.
Methodology
The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to assess the strength of consumer demand and the potential for wage-driven inflation.
Key Facts
- Manufacturing wages account for over 10% of total U.S. employee compensation.
- Hourly wages in manufacturing have risen by over 30% in the past decade.
- The manufacturing sector employs approximately 12 million workers in the U.S.
FAQs
Q: What does this economic trend measure?
A: This series tracks the average hourly earnings for all employees in the U.S. manufacturing sector, providing insight into wage growth and labor market conditions.
Q: Why is this trend relevant for users or analysts?
A: Manufacturing wages are a key indicator of inflationary pressures and the overall health of the industrial economy, making this data point highly relevant for policymakers, economists, and investors.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the strength of consumer demand and the potential for wage-driven inflation, informing decisions on monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The data is released monthly with a lag of approximately one month, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (SMU25000006000000001A), retrieved from FRED.