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Correlations > Economy Statistics > GSP > Compensation of Employees > Plastics and rubber products manufacturing

DEFINITION: Plastics and rubber products 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.
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Correlations between Economy > GSP > Compensation of Employees > Plastics and rubber products manufacturing ...

Variable Strength
...and  Industry > Plastics & rubber products manufacturing > Total value of shipments 97% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Value added 97% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Plastics and rubber products manufacturing 97% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Plastics and rubber products manufacturing 97% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Annual payroll 96% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Total cost of materials 95% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Total capital expenditures 93% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Total cost of materials 93% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Total value of shipments 92% [plot | correlate | graph]
...and  Labor > Plastics & rubber products manufacturing > Production workers (average per year) 92% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Value added 91% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Fabricated metal product manufacturing 90% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Production workers wages 90% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Annual payroll 89% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Fabricated metal product manufacturing 89% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Fabricated metal product manufacturing 89% [plot | correlate | graph]
...and  Labor > Total Manufacturing > Number of employees 88% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Total capital expenditures 88% [plot | correlate | graph]
...and  Labor > Fabricated metal product manufacturing > Number of employees 88% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Fabricated metal product manufacturing 87% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Production workers wages 86% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Annual payroll 86% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Electrical equipment and appliance manufacturing 85% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Production workers wages 85% [plot | correlate | graph]
...and  Labor > Total Manufacturing > Production workers hours 85% [plot | correlate | graph]
...and  Labor > Machinery manufacturing > Production workers hours 83% [plot | correlate | graph]
...and  Labor > Fabricated metal product manufacturing > Production workers (average per year) 83% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Plastics and rubber products manufacturing 82% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Machinery manufacturing 82% [plot | correlate | graph]
...and  Industry > Machinery manufacturing > Production workers wages 82% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Value added 81% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Total capital expenditures 80% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Machinery manufacturing 80% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Machinery manufacturing 80% [plot | correlate | graph]
...and  Industry > Machinery manufacturing > Annual payroll 79% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Total value of shipments 79% [plot | correlate | graph]
...and  Education > Public Libraries > Public Service Hours 79% [plot | correlate | graph]
...and  Labor > Total Manufacturing > Production workers (average per year) 79% [plot | correlate | graph]
...and  Labor > Fabricated metal product manufacturing > Production workers hours 78% [plot | correlate | graph]
...and  Labor > Machinery manufacturing > Production workers (average per year) 78% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Electrical equipment and appliance manufacturing 78% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Electrical equipment and appliance manufacturing 78% [plot | correlate | graph]
...and  Industry > Machinery manufacturing > Total value of shipments 78% [plot | correlate | graph]
...and  Industry > Machinery manufacturing > Value added 77% [plot | correlate | graph]
...and  Industry > Electrical equipment, appliance, & component manufacturing > Total value of shipments 76% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Nonmetallic mineral product manufacturing 76% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Truck transportation 76% [plot | correlate | graph]
...and  Industry > Machinery manufacturing > Total cost of materials 75% [plot | correlate | graph]
...and  Industry > Nonmetallic mineral product manufacturing > Annual payroll 75% [plot | correlate | graph]
...and  Industry > Electrical equipment, appliance, & component manufacturing > Value added 74% [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.

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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

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