Production or Nonsupervisory Employees: Trade, Transportation, and Utilities in Washington
Annual
SMU53000004000000006A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
553.40
Year-over-Year Change
23.91%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual trend measures the average hourly earnings of production and nonsupervisory employees in the manufacturing sector of the United States. It is a key indicator of wage growth and labor market 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
The Annual trend represents the average hourly wage rate for manufacturing workers in the U.S., providing insights into the overall compensation and productivity of the industrial labor force. This metric is closely watched by economists, policymakers, and businesses to assess the strength of the economy and inflationary pressures.
Methodology
The data is collected through surveys of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual trend is a critical input for Federal Reserve monetary policy decisions and analysis of the health of the U.S. manufacturing sector.
Key Facts
- Manufacturing accounts for approximately 11% of U.S. GDP.
- Annual wage growth has averaged 3.2% over the past decade.
- Hourly earnings in manufacturing are typically higher than the private sector average.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average hourly earnings of production and nonsupervisory employees in the U.S. manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into wage growth and labor market conditions in the critical manufacturing industry, which is a key driver of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Annual trend is a crucial input for Federal Reserve monetary policy decisions and analysis of the health of the U.S. manufacturing sector.
Q: Are there update delays or limitations?
A: The Annual trend data is released monthly with a typical delay of 1-2 months.
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Citation
U.S. Federal Reserve, Annual (SMU53000004000000006A), retrieved from FRED.