Average Hourly Earnings of All Employees: Goods Producing in Mississippi
SMU28000000600000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
28.63
Year-over-Year Change
38.85%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Hourly Earnings of All Employees: Goods Producing in Mississippi' trend measures the average hourly wages for workers in the goods-producing sector in Mississippi. It is an important economic indicator for tracking labor market conditions 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 data series represents the average hourly earnings for all employees, including both production and supervisory personnel, in the goods-producing industries located in the state of Mississippi. It is used by economists and policymakers to assess trends in worker compensation and broader economic health.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is closely watched by the Federal Reserve and other institutions to inform monetary policy decisions and monitor the overall strength of the economy.
Key Facts
- The data series dates back to 1939.
- Mississippi's goods-producing sector includes manufacturing, construction, and mining.
- Hourly earnings in this sector can signal changes in labor market tightness and inflationary pressures.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wages for workers in the goods-producing industries, such as manufacturing, construction, and mining, located in the state of Mississippi.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for assessing labor market conditions and inflationary pressures in the Mississippi economy. It is closely monitored by policymakers and economists to inform economic decision-making.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Federal Reserve and other institutions use this metric to help inform monetary policy decisions and monitor the overall strength of the economy.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of around one month.
Related Trends
State Government Tax Collections, Total Income Taxes in Mississippi
MSTLINCTAX
Average Hourly Earnings of Production Employees: Manufacturing: Durable Goods in Mississippi
SMU28000003100000008A
Monthly State Retail Sales: Health and Personal Care Stores in Mississippi
MSRSMS446
Imports of Goods for Mississippi
IMPTOTMS
Health Care and Social Assistance Wages and Salaries in Mississippi
MSWHEA
Personal Consumption Expenditures: Services: Recreation Services for Mississippi
MSPCESRECSRV
Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Goods Producing in Mississippi (SMU28000000600000003A), retrieved from FRED.