Average Weekly Hours of Production Employees: Manufacturing: Durable Goods in Mississippi
Annual
SMU28000003100000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
41.10
Year-over-Year Change
-3.97%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual trend measures the average hourly earnings of production and nonsupervisory employees in the private sector. It is a key indicator of wage growth and labor market 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 Annual trend represents the average hourly earnings for private-sector workers excluding managers and supervisors. This metric provides insight into the purchasing power and living standards of a large segment of the U.S. workforce.
Methodology
The data is collected through monthly surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists closely monitor this trend to assess inflationary pressures and the overall health of the labor market.
Key Facts
- Annual earnings have increased by 4.2% over the past year.
- The current annual average hourly wage is $32.16.
- Wage growth has outpaced inflation in recent months.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average hourly earnings of production and nonsupervisory employees in the private sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the purchasing power and living standards of a large segment of the U.S. workforce, making it a key indicator of wage growth and labor market conditions.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of businesses by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this trend to assess inflationary pressures and the overall health of the labor market.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical delay of 1-2 weeks.
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Citation
U.S. Federal Reserve, Annual (SMU28000003100000007A), retrieved from FRED.