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Correlations > Economy Statistics > GSP > Compensation of Employees > Machinery manufacturing

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Correlations between Economy > GSP > Compensation of Employees > Machinery manufacturing ...

Variable Strength
...and  Industry > Machinery manufacturing > Annual payroll 96% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Fabricated metal product manufacturing 95% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Machinery manufacturing 95% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Machinery manufacturing 95% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Annual payroll 94% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Fabricated metal product manufacturing 94% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Fabricated metal product manufacturing 94% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Value added 93% [plot | correlate | graph]
...and  Labor > Fabricated metal product manufacturing > Number of employees 93% [plot | correlate | graph]
...and  Industry > Machinery manufacturing > Production workers wages 91% [plot | correlate | graph]
...and  Industry > Machinery manufacturing > Value added 91% [plot | correlate | graph]
...and  Labor > Machinery manufacturing > Production workers hours 91% [plot | correlate | graph]
...and  Labor > Fabricated metal product manufacturing > Production workers (average per year) 91% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Production workers wages 91% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Total value of shipments 90% [plot | correlate | graph]
...and  Industry > Machinery manufacturing > Total capital expenditures 90% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Production workers wages 89% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Total capital expenditures 89% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Annual payroll 89% [plot | correlate | graph]
...and  Industry > Machinery manufacturing > Total value of shipments 88% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Fabricated metal product manufacturing 88% [plot | correlate | graph]
...and  Labor > Machinery manufacturing > Production workers (average per year) 86% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Total cost of materials 85% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Value added 85% [plot | correlate | graph]
...and  Labor > Total Manufacturing > Number of employees 84% [plot | correlate | graph]
...and  Labor > Total Manufacturing > Production workers hours 83% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Total value of shipments 83% [plot | correlate | graph]
...and  Industry > Machinery manufacturing > Total cost of materials 82% [plot | correlate | graph]
...and  Education > Public Libraries > Public Service Hours 82% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Plastics and rubber products manufacturing 82% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Printing and related support activities 81% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Printing and related support activities 81% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Printing and related support activities 81% [plot | correlate | graph]
...and  Labor > Fabricated metal product manufacturing > Production workers hours 81% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Total capital expenditures 80% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Annual payroll 79% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Value added 79% [plot | correlate | graph]
...and  Health > Number of Nursing Homes 79% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Total value of shipments 79% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Plastics and rubber products manufacturing 79% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Plastics and rubber products manufacturing 79% [plot | correlate | graph]
...and  Education > Public Libraries > Users of Electronic Resources 79% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Production workers wages 79% [plot | correlate | graph]
...and  Labor > Printing & related support activities > Production workers hours 79% [plot | correlate | graph]
...and  Education > Postsecondary > Total Fall Enrollment > White 79% [plot | correlate | graph]
...and  Labor > Printing & related support activities > Production workers (average per year) 78% [plot | correlate | graph]
...and  Labor > Plastics & rubber products manufacturing > Production workers (average per year) 78% [plot | correlate | graph]
...and  Education > Public Libraries > Number of Public Internet Terminals 78% [plot | correlate | graph]
...and  Education > Elementary & Secondary > Total Students- White, non-Hispanic 78% [plot | correlate | graph]
...and  Industry > Printing & related support activities > Total value of shipments 78% [plot | correlate | graph]
Average: 85%

About Correlations:

A correlation is a statistical measure of similarity between at least two given sets of data. StateMaster's correlations compare two variables from our database and reveal statistical relationships between them. The percentages you see represent the strength (or likelihood) that a change in the topic variable is matched by a change in the listed variables below it. But remember: These correlations do not imply causation, that is, one does not necessarily cause the other. Also, not all variables contain all states, rather subsets of states matched together.

VIEW FOR THIS VARIABLE:

NOTES:

  • Outliers have been removed only where they are outside 3 standard deviations of the mean.
  • Only variable pairs where at least 15 states match for each have been considered.
  • Strength is given by the correlation coefficient (R squared). It is the fraction of variation in Y that can be attributed to the variation in X. 100% signifies a perfect fit (R squared of 1). The top 50 such stats are displayed



DEFINITION: Machinery manufacturing, Compensation of Employees (current dollars) Compensation of Employees is a statisical term which refers to the total gross (pre-tax) wages paid by employers to employeesfor work done in an accounting period, such as a quarter or a year. It represents roughly the total labor cost to an employer.

SOURCE: U.S. Department of Commerce, Bureau of Economic Analysis, Regional Economic Analysis Division. Data for 2003.

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