Hours: Hours Worked: Industry Excluding Construction: Monthly for Luxembourg
HOHWIN03LUM661N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
95.79
Year-over-Year Change
-4.26%
Date Range
1/1/1980 - 9/1/2023
Summary
The 'Hours: Hours Worked: Industry Excluding Construction: Monthly for Luxembourg' series measures the monthly average hours worked in the industrial sector, excluding construction, in Luxembourg. This metric provides insights into labor utilization and productivity trends in the country's manufacturing and industrial economy.
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
This series tracks the average number of hours worked per month by employees in Luxembourg's industrial sector, excluding the construction industry. It serves as an important indicator of labor market conditions and capacity utilization, which are closely monitored by economists and policymakers to assess the health of the industrial economy.
Methodology
The data is collected through surveys of businesses and organizations across Luxembourg's industrial sector.
Historical Context
This trend is closely watched by the European Central Bank and other institutions to inform economic policy decisions and monitor industrial activity in the Eurozone.
Key Facts
- Luxembourg's industrial sector accounts for approximately 14% of its GDP.
- The average monthly hours worked in Luxembourg's industrial sector has declined by 2.5% over the past 5 years.
- Luxembourg has one of the highest labor productivity levels in the Eurozone.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per month by employees in Luxembourg's industrial sector, excluding construction.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor utilization and productivity trends in Luxembourg's manufacturing and industrial economy, which are closely monitored by economists and policymakers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and organizations across Luxembourg's industrial sector.
Q: How is this trend used in economic policy?
A: This trend is closely watched by the European Central Bank and other institutions to inform economic policy decisions and monitor industrial activity in the Eurozone.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately two months.
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Citation
U.S. Federal Reserve, Hours: Hours Worked: Industry Excluding Construction: Monthly for Luxembourg (HOHWIN03LUM661N), retrieved from FRED.