Average Weekly Earnings of All Employees: Manufacturing in Pennsylvania
SMU42000003000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,305.61
Year-over-Year Change
40.95%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Earnings of All Employees: Manufacturing in Pennsylvania measures the average weekly earnings of all manufacturing employees in the state. This metric provides insight into the economic conditions and purchasing power of Pennsylvania's manufacturing workforce.
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
This economic indicator tracks the average weekly nominal earnings of all employees in the manufacturing sector within Pennsylvania. It is a key statistic used by economists and policymakers to assess trends in labor costs, worker productivity, and the overall health of the state's manufacturing industry.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Changes in average weekly earnings can influence consumer spending, business investment, and labor market policies in Pennsylvania and the broader U.S. economy.
Key Facts
- Pennsylvania is the 6th largest manufacturing state in the U.S.
- Manufacturing accounts for over 11% of Pennsylvania's GDP.
- The average weekly wage for manufacturing workers in Pennsylvania is higher than the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly nominal earnings of all employees in the manufacturing sector within the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: Changes in average weekly manufacturing earnings provide insights into labor costs, worker productivity, and the overall health of Pennsylvania's manufacturing industry, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in average weekly manufacturing earnings can influence consumer spending, business investment, and labor market policies in Pennsylvania and the broader U.S. economy.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical delay of around one month.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Manufacturing in Pennsylvania (SMU42000003000000011A), retrieved from FRED.