Average Weekly Earnings of Production Employees: Manufacturing in Nebraska
SMU31000003000000030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,018.31
Year-over-Year Change
51.76%
Date Range
1/1/2001 - 1/1/2024
Summary
The Average Weekly Earnings of Production Employees: Manufacturing in Nebraska measures the average weekly earnings of manufacturing production workers in the state. This economic indicator provides insights into labor costs and wage trends that are important for policymakers and businesses.
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 series tracks the average weekly earnings for production employees in the manufacturing sector across Nebraska. It is a key metric for assessing wage and cost pressures within the state's manufacturing industry, which is a significant contributor to the overall economy.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Manufacturing wages and earnings are closely monitored by economists and policymakers to gauge inflationary pressures and the overall health of the state's industrial base.
Key Facts
- Nebraska's manufacturing sector accounts for over 10% of the state's GDP.
- Average weekly earnings in Nebraska manufacturing have risen by 20% over the past decade.
- Wage growth in Nebraska manufacturing has outpaced the national average in recent years.
FAQs
Q: What does this economic trend measure?
A: This series tracks the average weekly earnings for production employees in the manufacturing sector across the state of Nebraska.
Q: Why is this trend relevant for users or analysts?
A: Manufacturing wages and earnings are closely monitored to gauge inflationary pressures and the overall health of the state's industrial base.
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 economists use this data to assess wage and cost pressures within Nebraska's manufacturing sector.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of Production Employees: Manufacturing in Nebraska (SMU31000003000000030A), retrieved from FRED.