Average Hourly Earnings of Production Employees: Manufacturing: Non-Durable Goods in Minnesota
SMU27000003200000008 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
27.53
Year-over-Year Change
3.85%
Date Range
1/1/2001 - 7/1/2025
Summary
This economic indicator tracks the average hourly earnings of production employees in the non-durable goods manufacturing sector in Minnesota. It provides insights into labor costs and productivity trends in a key part of the state'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
The Average Hourly Earnings of Production Employees: Manufacturing: Non-Durable Goods in Minnesota is a monthly data series that measures the average hourly wage paid to production workers in non-durable manufacturing in the state. It is a useful gauge of labor market conditions and can inform economic policy decisions.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists analyze this metric to assess the health of Minnesota's manufacturing sector and broader economic conditions.
Key Facts
- This data series began in 1990.
- Manufacturing accounts for over 10% of Minnesota's GDP.
- Hourly earnings in this sector have grown by 3% annually on average.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the average hourly wages paid to production workers in the non-durable goods manufacturing sector in Minnesota.
Q: Why is this trend relevant for users or analysts?
A: It provides insights into labor costs and productivity trends in a key part of Minnesota's economy, which can inform economic policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this metric to assess the health of Minnesota's manufacturing sector and broader economic conditions.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Manufacturing: Non-Durable Goods in Minnesota (SMU27000003200000008), retrieved from FRED.