Average Hourly Earnings of Production Employees: Manufacturing: Non-Durable Goods in North Carolina
Annual
SMU37000003200000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21.35
Year-over-Year Change
41.02%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual series measures the average hourly earnings of production and nonsupervisory employees in the private sector in the United States. This metric 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 series provides a comprehensive measure of changes in the hourly earnings of private-sector production and nonsupervisory employees. It is widely used by economists, policymakers, and analysts to assess inflationary pressures and the overall health of the labor market.
Methodology
The data is collected through a monthly survey of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual series is closely monitored by the Federal Reserve and other policymakers to inform monetary policy decisions.
Key Facts
- The Annual series has been published since the 1960s.
- It covers over 80% of private-sector employment in the U.S.
- The series is released monthly as part of the Employment Situation report.
FAQs
Q: What does this economic trend measure?
A: The Annual series measures the average hourly earnings of private-sector production and nonsupervisory employees in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of wage growth and labor market conditions, which are important for assessing inflationary pressures and the overall health of the economy.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Annual series is closely monitored by the Federal Reserve and other policymakers to inform monetary policy decisions.
Q: Are there update delays or limitations?
A: The series is released monthly as part of the Employment Situation report, with a typical delay of several weeks from the reference period.
Related Trends
Personal Consumption Expenditures: Services: Housing and Utilities for North Carolina
NCPCEHOUSUTL
Chain-Type Quantity Index for Real GDP: Real Estate (531) in North Carolina
NCREALQGSP
All Employees: Health Care and Social Assistance in North Carolina
SMU37000006562000001A
All Employees: Manufacturing: Durable Goods: Furniture and Related Product Manufacturing in North Carolina
SMU37000003133700001SA
Other Services (except Public Administration) Earnings in North Carolina
NCEOTH
Chain-Type Quantity Index for Real GDP: Private Goods-Producing Industries in North Carolina
NCPRIGOODPROQGSP
Citation
U.S. Federal Reserve, Annual (SMU37000003200000008A), retrieved from FRED.