Average Hourly Earnings of Production Employees: Manufacturing in Ohio
Annual
SMU39000003000000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26.56
Year-over-Year Change
37.19%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual trend measures the annual average of total manufacturing production for the United States. It provides a comprehensive overview of the manufacturing sector's output and is a key indicator of economic activity.
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 manufacturing production trend is a widely tracked economic indicator that reflects the total output of the U.S. manufacturing industry. It is used by economists, policymakers, and analysts to assess the health and performance of the manufacturing sector, which is a vital component of the broader economy.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through monthly surveys of manufacturing establishments.
Historical Context
This trend is closely monitored by the Federal Reserve and other government agencies to inform monetary and fiscal policy decisions.
Key Facts
- Manufacturing accounts for approximately 11% of U.S. GDP.
- The Annual manufacturing production trend reached a record high in 2019.
- Declines in the Annual trend often signal an economic recession.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the annual average of total manufacturing production in the United States, providing a comprehensive overview of the manufacturing sector's output.
Q: Why is this trend relevant for users or analysts?
A: The Annual manufacturing production trend is a key indicator of economic activity and is closely monitored by policymakers, economists, and analysts to assess the health and performance of the U.S. manufacturing sector.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through monthly surveys of manufacturing establishments.
Q: How is this trend used in economic policy?
A: The Annual manufacturing production trend is closely monitored by the Federal Reserve and other government agencies to inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The Annual manufacturing production data is published with a relatively short delay, typically within a few weeks of the end of the reference year.
Related Trends
Average Weekly Earnings of All Employees: Private Service Providing in Ohio
SMU39000000800000011A
Homeownership Rate for Ohio
OHHOWN
All Employees: Financial Activities: Insurance Carriers and Related Activities in Ohio
SMU39000005552400001
High-Propensity Business Applications for Ohio
HBUSAPPWNSAOHYY
Real Gross Domestic Product: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Ohio
OHOTRANEQMANRGSP
Real Gross Domestic Product: Farms (111-112) in Ohio
OHFARMRGSP
Citation
U.S. Federal Reserve, Annual (SMU39000003000000008A), retrieved from FRED.