Nondurable Manufacturing Wages and Salaries in Virginia
VAWNON • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,930,341.00
Year-over-Year Change
9.97%
Date Range
1/1/1998 - 1/1/2025
Summary
This economic trend measures nondurable manufacturing wages and salaries in the state of Virginia. It is an important indicator of economic activity and labor market conditions in the state's manufacturing 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 Nondurable Manufacturing Wages and Salaries in Virginia series tracks the total compensation paid to workers in the nondurable goods manufacturing industry within the state. This provides insight into labor costs and productivity in this key economic sector.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through surveys of employers.
Historical Context
This trend is closely monitored by policymakers, economists, and businesses to assess the health of Virginia's manufacturing industry and broader economic environment.
Key Facts
- Virginia is a major manufacturing hub in the U.S.
- Nondurable goods account for over 40% of the state's manufacturing output.
- Manufacturing wages make up a significant portion of total personal income in Virginia.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total wages and salaries paid to workers in the nondurable manufacturing industry within the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into labor costs, productivity, and the overall health of Virginia's manufacturing sector, which is a critical component of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through surveys of employers in the nondurable manufacturing industry.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and businesses closely monitor this trend to assess the competitiveness of Virginia's manufacturing industry and make informed decisions about economic development, workforce, and trade policies.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, but there may be a lag of several weeks between the reference period and the release of the latest figures.
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Citation
U.S. Federal Reserve, Nondurable Manufacturing Wages and Salaries in Virginia (VAWNON), retrieved from FRED.