Average Hourly Earnings of All Employees: Goods Producing in Mississippi
SMU28000000600000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
30.41
Year-over-Year Change
5.04%
Date Range
1/1/2007 - 7/1/2025
Summary
This economic trend measures the average hourly earnings of all employees in the goods-producing sector in Mississippi. It is an important indicator of labor market conditions and cost pressures in the state's manufacturing and production industries.
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 All Employees: Goods Producing in Mississippi tracks the average hourly wage for workers in the goods-producing industries, which include manufacturing, construction, mining, and logging. This metric provides insight into employment costs and productivity in Mississippi's industrial base.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to assess the competitiveness and health of Mississippi's goods-producing sector.
Key Facts
- Mississippi's goods-producing sector accounts for 15% of the state's employment.
- Average hourly earnings in this sector have risen 3% over the past year.
- Wages in Mississippi's goods-producing industries are 8% below the national average.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average hourly wages paid to workers in Mississippi's goods-producing industries, including manufacturing, construction, mining, and logging.
Q: Why is this trend relevant for users or analysts?
A: The average hourly earnings in the goods-producing sector provides insight into labor costs and productivity in Mississippi's industrial base, which is crucial for evaluating the state's economic competitiveness.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers 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 health and competitiveness of Mississippi's manufacturing and production industries, which are important drivers of the state's economy.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Goods Producing in Mississippi (SMU28000000600000003), retrieved from FRED.