Average Hourly Earnings of Production Employees: Manufacturing in Montana
SMU30000003000000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
23.69
Year-over-Year Change
33.16%
Date Range
1/1/2001 - 1/1/2024
Summary
The Average Hourly Earnings of Production Employees: Manufacturing in Montana tracks the average hourly wages paid to manufacturing workers in the state. This metric provides insights into labor costs and productivity trends within Montana's manufacturing sector.
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 economic series measures the average hourly earnings of production employees in the manufacturing industry in Montana. It is a key indicator of wage growth and labor market conditions within this important sector of the state's economy.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this trend to assess the competitiveness and health of Montana's manufacturing industry.
Key Facts
- Montana's manufacturing sector employs over 25,000 workers.
- Average hourly earnings in Montana manufacturing exceed the national average.
- Wage growth in this sector has outpaced overall state wage growth in recent years.
FAQs
Q: What does this economic trend measure?
A: This series tracks the average hourly wages paid to production employees in the manufacturing industry in the state of Montana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor costs and productivity trends within Montana's manufacturing sector, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the competitiveness and health of Montana's manufacturing industry, which informs economic development strategies.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Manufacturing in Montana (SMU30000003000000008A), retrieved from FRED.