Average Hourly Earnings of Production Employees: Manufacturing: Durable Goods in Utah
SMU49000003100000008 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
28.47
Year-over-Year Change
-0.73%
Date Range
1/1/2001 - 7/1/2025
Summary
This trend measures the average hourly earnings of production employees in the durable goods manufacturing sector in Utah. It provides insights into labor costs and wage dynamics within a key economic industry.
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 Hourly Earnings of Production Employees: Manufacturing: Durable Goods in Utah trend tracks the typical hourly compensation for workers involved in the production of durable goods, such as machinery, electronics, and transportation equipment, within the state's manufacturing sector.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is widely used by economists, policymakers, and businesses to assess labor market conditions and cost pressures in Utah's manufacturing industry.
Key Facts
- Utah's durable goods manufacturing sector employs over 100,000 workers.
- Average hourly earnings in this industry have risen by 15% in the past 5 years.
- Manufacturing accounts for approximately 10% of Utah's total GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly compensation for production workers in the durable goods manufacturing sector within the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into labor costs and wage dynamics within a key industry, which helps inform economic and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted 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 assess labor market conditions and cost pressures in Utah's manufacturing sector, which informs decisions around employment, investment, and economic development.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, 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 Production Employees: Manufacturing: Durable Goods in Utah (SMU49000003100000008), retrieved from FRED.