Average Hourly Earnings of Production Employees: Manufacturing in South Carolina
SMU45000003000000008 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
27.79
Year-over-Year Change
9.32%
Date Range
1/1/2001 - 6/1/2025
Summary
The Average Hourly Earnings of Production Employees: Manufacturing in South Carolina measures the average hourly wages paid to manufacturing production workers in the state. This is a key economic indicator of labor costs and worker compensation trends.
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 earnings of production employees specifically in the manufacturing sector of South Carolina. It is used by economists and policymakers to analyze regional labor market conditions and manufacturing industry competitiveness.
Methodology
The data is collected through monthly surveys of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
The trend is relevant for understanding the economic health of South Carolina's manufacturing industry and labor market.
Key Facts
- South Carolina is a major manufacturing hub in the Southeastern U.S.
- Manufacturing accounts for over 17% of the state's GDP.
- The average hourly wage for production workers in SC manufacturing is $23.85.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wages paid to production employees in the manufacturing sector of South Carolina.
Q: Why is this trend relevant for users or analysts?
A: The trend provides insight into labor costs and worker compensation in a key industry, which is important for analyzing regional economic conditions and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to monitor the health of South Carolina's manufacturing industry and labor market, which can inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Manufacturing in South Carolina (SMU45000003000000008), retrieved from FRED.