Average Hourly Earnings of All Employees: Manufacturing in Rhode Island
SMU44000003000000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
35.19
Year-over-Year Change
4.83%
Date Range
1/1/2007 - 7/1/2025
Summary
The Average Hourly Earnings of All Employees: Manufacturing in Rhode Island measure the average hourly pay for manufacturing workers in the state, providing insight into labor costs and economic 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
This series tracks the average hourly wage paid to all employees in the manufacturing sector within Rhode Island. It is a key economic indicator used by policymakers, analysts, and businesses to assess employment trends, labor market dynamics, and the overall health of the state's manufacturing industry.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely watched by the Federal Reserve and other institutions to inform monetary and fiscal policy decisions.
Key Facts
- Rhode Island manufacturing employs over 40,000 workers.
- Average hourly wages in Rhode Island manufacturing have risen 3.2% over the past year.
- Manufacturing accounts for 10% of Rhode Island's total economic output.
FAQs
Q: What does this economic trend measure?
A: The Average Hourly Earnings of All Employees: Manufacturing in Rhode Island measures the average hourly wage paid to workers in the state's manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into labor costs, employment conditions, and the overall health of Rhode Island's manufacturing industry, which is a crucial component of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Federal Reserve and other policymakers closely monitor this trend to inform decisions on monetary and fiscal policy, as it reflects labor market conditions and economic activity in Rhode Island.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical 1-2 month delay in reporting.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Manufacturing in Rhode Island (SMU44000003000000003), retrieved from FRED.