Average Hourly Earnings of All Employees: Manufacturing in Utah
SMU49000003000000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
33.81
Year-over-Year Change
2.67%
Date Range
1/1/2007 - 7/1/2025
Summary
The Average Hourly Earnings of All Employees: Manufacturing in Utah measures the average hourly wage paid to manufacturing workers in the state. This metric is closely watched by economists and policymakers as an indicator of labor market conditions and trends in worker compensation.
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 all employees in the manufacturing sector in the state of Utah. It provides insight into wage levels and changes for this key industry, which can inform economic analysis and decision-making by businesses, policymakers, and other stakeholders.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in manufacturing wages are relevant for understanding the state's economic performance and competitiveness, as well as the purchasing power and standard of living of workers in this sector.
Key Facts
- Manufacturing accounts for over 10% of Utah's GDP.
- Utah's manufacturing wages have risen by 15% in the past 5 years.
- The state's manufacturing sector employs over 130,000 workers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wage paid to all employees working in the manufacturing sector in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: Trends in manufacturing wages provide important insights into labor market conditions, worker compensation, and the overall economic performance of this critical industry in Utah.
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: Analysts and policymakers monitor this metric to assess the state's economic competitiveness, the purchasing power of manufacturing workers, and broader labor market trends that can inform policy decisions.
Q: Are there update delays or limitations?
A: This data is published monthly with a typical lag of 1-2 months from the reference period.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Manufacturing in Utah (SMU49000003000000003), retrieved from FRED.