Average Hourly Earnings of Production Employees: Manufacturing: Durable Goods in North Carolina
SMU37000003100000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25.25
Year-over-Year Change
41.54%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic trend measures the average hourly earnings of production employees in the durable goods manufacturing sector in North Carolina. It provides important insights into wage dynamics and labor market conditions in a key industry within the state.
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 Average Hourly Earnings of Production Employees: Manufacturing: Durable Goods in North Carolina series tracks the average hourly compensation for workers involved in the production of durable goods, such as machinery, equipment, and other long-lasting products, within the manufacturing industry in the state. This metric is closely monitored by economists and policymakers to gauge the strength of the labor market and inflationary pressures.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is used to inform economic policy decisions and provide context for market analysis.
Key Facts
- Durable goods manufacturing accounts for over 20% of North Carolina's GDP.
- Wages in this sector have risen by an average of 3% annually over the past decade.
- The state's durable goods manufacturing industry employs over 300,000 workers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of production employees in the durable goods manufacturing sector in North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into wage dynamics and labor market conditions in a key industry within the state, which is crucial for economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is used to inform economic policy decisions and provide context for market analysis.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Manufacturing: Durable Goods in North Carolina (SMU37000003100000008A), retrieved from FRED.