Average Hourly Earnings of Production Employees: Durable Goods: Transportation Equipment Manufacturing in Washington
SMU53000003133600008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.95
Year-over-Year Change
26.04%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic trend measures the average hourly earnings of production employees in the transportation equipment manufacturing industry within the state of Washington. It provides insight into wage levels and labor market conditions in this key economic sector.
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: Durable Goods: Transportation Equipment Manufacturing in Washington trend represents the typical hourly pay for workers involved in the production of durable transportation equipment goods in the state. This data point is a useful indicator of broader economic health and purchasing power.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This wage trend is closely monitored by policymakers, economists, and industry analysts to assess the competitiveness and stability of the transportation manufacturing sector.
Key Facts
- Washington's transportation equipment manufacturing employs over 100,000 workers.
- Wages in this sector are typically higher than the state's overall private-sector average.
- Hourly earnings have grown by over 20% in the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of production employees in the transportation equipment manufacturing industry within the state of Washington.
Q: Why is this trend relevant for users or analysts?
A: This wage data provides insight into the labor market conditions and purchasing power in a key industrial sector, which is important for economists, policymakers, and industry stakeholders.
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: This transportation manufacturing wage trend is closely monitored by policymakers and analysts to assess the competitiveness and stability of the sector.
Q: Are there update delays or limitations?
A: There may be a lag of several months between the reference period and the data release, and the sample size may limit detailed geographic or industry breakdowns.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Durable Goods: Transportation Equipment Manufacturing in Washington (SMU53000003133600008A), retrieved from FRED.