Average Hourly Earnings of All Employees: Manufacturing in North Carolina
Monthly
SMU37000003000000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31.99
Year-over-Year Change
4.41%
Date Range
1/1/2007 - 7/1/2025
Summary
The 'Monthly' trend measures the total number of hours worked per month by employees in the manufacturing sector of the U.S. economy. This metric is a key indicator of industrial activity and labor market dynamics.
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 'Monthly' trend tracks the total number of hours worked per month by production and nonsupervisory employees in the U.S. manufacturing industry. This data provides insights into labor utilization and productivity trends within the manufacturing sector.
Methodology
The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Analysts and policymakers closely monitor this trend to assess the health and outlook of the U.S. industrial economy.
Key Facts
- Manufacturing accounts for about 11% of U.S. GDP.
- The monthly hours trend reached a low of 38.2 hours in April 2020.
- Manufacturing productivity has increased by over 50% since 2000.
FAQs
Q: What does this economic trend measure?
A: The 'Monthly' trend measures the total number of hours worked per month by production and nonsupervisory employees in the U.S. manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into labor utilization and productivity trends within the U.S. manufacturing industry, which is a key driver of economic growth and a focus of policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturing establishments conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Analysts and policymakers closely monitor this trend to assess the health and outlook of the U.S. industrial economy, which informs decisions related to economic stimulus, trade policy, and workforce development.
Q: Are there update delays or limitations?
A: The 'Monthly' data is released with a lag of approximately one month and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Monthly (SMU37000003000000003), retrieved from FRED.