Average Weekly Earnings of Production Employees: Non-Durable Goods: Food Manufacturing in Pennsylvania
SMU42000003231100030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,150.56
Year-over-Year Change
92.68%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic trend measures the average weekly earnings of production employees in the non-durable goods food manufacturing industry in Pennsylvania. It provides important insights into wage dynamics and labor costs in a key sector of the state's economy.
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 Weekly Earnings of Production Employees: Non-Durable Goods: Food Manufacturing in Pennsylvania series tracks the mean weekly earnings for workers involved in the production process in Pennsylvania's food manufacturing industry. This metric is a key indicator of labor market conditions and can inform economic analysis and policy decisions.
Methodology
The data is collected through surveys of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely watched by economists, policymakers, and industry analysts to assess employment and compensation trends in Pennsylvania's food manufacturing sector.
Key Facts
- Pennsylvania is a major food manufacturing hub.
- Wages in this sector impact household incomes and consumer spending.
- Food manufacturing is a significant employer in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of production employees in the non-durable goods food manufacturing industry in Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor market conditions and wage dynamics in a key sector of Pennsylvania's economy, which is valuable for economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is closely watched by economists, policymakers, and industry analysts to assess employment and compensation trends in Pennsylvania's food manufacturing sector, which can inform economic policy decisions.
Q: Are there update delays or limitations?
A: There may be occasional delays in data updates, and the series may not fully capture all aspects of the food manufacturing labor market in Pennsylvania.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of Production Employees: Non-Durable Goods: Food Manufacturing in Pennsylvania (SMU42000003231100030A), retrieved from FRED.