Average Weekly Earnings of All Employees: Construction in Minnesota
Monthly
SMU27000002000000011 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,806.27
Year-over-Year Change
2.91%
Date Range
1/1/2007 - 7/1/2025
Summary
This series measures monthly average hourly earnings for all employees in the manufacturing sector, providing insight into labor costs and economic conditions.
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 monthly average hourly earnings for manufacturing employees is a key economic indicator that reflects changes in labor costs and productivity. It is used by policymakers, analysts, and businesses to assess inflationary pressures and make informed decisions.
Methodology
The data is collected through a monthly survey of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in manufacturing wages can influence monetary and fiscal policy decisions.
Key Facts
- Manufacturing accounts for about 11% of U.S. GDP.
- Wages make up a significant portion of total manufacturing costs.
- Hourly earnings have grown by over 50% since 2000.
FAQs
Q: What does this economic trend measure?
A: This series measures the average hourly earnings of all employees in the U.S. manufacturing sector on a monthly basis.
Q: Why is this trend relevant for users or analysts?
A: Trends in manufacturing wages are closely watched by policymakers, economists, and businesses as an indicator of labor costs, productivity, and inflationary pressures in the economy.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Changes in manufacturing wages can influence monetary and fiscal policy decisions, as they provide insights into labor market conditions and inflationary pressures.
Q: Are there update delays or limitations?
A: The data is released with a one-month lag and may be subject to revisions.
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Citation
U.S. Federal Reserve, Monthly Average Hourly Earnings for Manufacturing (SMU27000002000000011), retrieved from FRED.