Average Industrial Wage

This economic statistic measures hourly wages, though it doesn’t include farmers (hence, the word "industrial" in the name). It focuses on a specific geographic area. The average industrial wage works as a proxy for hourly rates in country...which why it matters.

Employers, and labor unions, like to calculate the average industrial wage (rate per hour) in a specific geographic area for a particular industry. The companies can see if they are overpaying or underpaying as compared to the competition. Meanwhile, labor unions can use the information for bargaining power.

Farm employees are usually excluded from the calculation in order to not skew the results.

You can save yourself some time by looking on the U.S. Bureau of Labor Statistics website, which lists the average industrial wage, unemployment rates, value of benefits received, who is on strike, and productivity rates on a national, state or local level. The data is further categorized by industry, age group and other demographics. The average industrial wage can then be compared to the local rate of inflation. This will indicate if real wages are increasing.