Average Hourly Earnings of Production Employees: Manufacturing: Non-Durable Goods in West Virginia
SMU54000003200000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
24.77
Year-over-Year Change
28.68%
Date Range
1/1/2003 - 1/1/2024
Summary
This economic trend measures the average hourly earnings of production employees in the non-durable goods manufacturing sector in West Virginia. It provides insight into wage dynamics and labor market conditions in this critical 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: Non-Durable Goods in West Virginia is a key indicator of compensation levels and trends for factory workers producing non-durable goods in the state. It is used by economists and policymakers to analyze regional labor market conditions and the competitiveness of West Virginia's manufacturing industry.
Methodology
The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend helps inform decisions around economic development, workforce policies, and West Virginia's manufacturing competitiveness.
Key Facts
- West Virginia's non-durable goods manufacturing employs over 30,000 workers.
- Average hourly earnings in this sector were $19.50 as of the latest data.
- Earnings have increased by 3.2% over the past year.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of production employees in the non-durable goods manufacturing sector in West Virginia.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into labor market conditions and compensation levels for a critical industry in West Virginia's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend helps inform decisions around economic development, workforce policies, and West Virginia's manufacturing competitiveness.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Manufacturing: Non-Durable Goods in West Virginia (SMU54000003200000008A), retrieved from FRED.