Average Hourly Earnings of All Employees: Goods Producing in Oregon
SMU41000000600000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.83
Year-over-Year Change
55.87%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic trend measures the average hourly earnings of all employees in the goods-producing sector in Oregon. It provides insight into wage dynamics in the state's manufacturing, mining, and construction industries.
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 All Employees: Goods Producing in Oregon is a key indicator of labor market conditions and compensation trends in the state's core goods-producing industries. It is used by economists, policymakers, and businesses to analyze employment costs and the competitive position of Oregon's economy.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is closely watched by the Federal Reserve and other institutions to assess inflationary pressures and the strength of the regional economy.
Key Facts
- Oregon's goods-producing sector accounts for over 15% of total state employment.
- Hourly wages in Oregon's goods-producing industries are approximately 20% higher than the state average.
- The trend in average hourly earnings provides insight into the competitiveness of Oregon's manufacturing and construction sectors.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of all employees working in the goods-producing sector in the state of Oregon, including manufacturing, mining, and construction industries.
Q: Why is this trend relevant for users or analysts?
A: The average hourly earnings in Oregon's goods-producing industries is a key indicator of labor market conditions and compensation trends, providing insight into the competitive position and inflationary pressures in the state's core production sectors.
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 metric is closely monitored by the Federal Reserve and other institutions to assess regional economic strength and potential inflationary pressures.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag, providing timely insight into Oregon's goods-producing labor market.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Goods Producing in Oregon (SMU41000000600000003A), retrieved from FRED.