Hours: Hours Worked: Manufacturing: Weekly for Canada
HOHWMN02CAQ065N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.60
Year-over-Year Change
3.20%
Date Range
1/1/1960 - 7/1/2023
Summary
This economic indicator measures the average weekly hours worked in the manufacturing sector in Canada. It provides insights into the production and labor dynamics of the Canadian 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
The Hours Worked: Manufacturing: Weekly for Canada trend represents the average number of hours worked per week by employees in the Canadian manufacturing industry. This data point is a key indicator of productivity, labor utilization, and the overall health of the manufacturing sector.
Methodology
The data is collected through surveys of Canadian manufacturing establishments.
Historical Context
Economists and policymakers use this metric to assess the strength of the Canadian economy and make informed decisions about economic policy.
Key Facts
- The average weekly hours worked in Canadian manufacturing was 39.6 hours in 2022.
- Manufacturing accounts for about 10% of Canada's GDP.
- The manufacturing sector employs over 1.7 million Canadians.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by employees in the Canadian manufacturing industry.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the productivity, labor utilization, and overall health of the Canadian manufacturing sector, which is a crucial part of the country's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Canadian manufacturing establishments.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this metric to assess the strength of the Canadian economy and make informed decisions about economic policy.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, and there may be slight delays in the release of the latest figures.
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Citation
U.S. Federal Reserve, Hours: Hours Worked: Manufacturing: Weekly for Canada (HOHWMN02CAQ065N), retrieved from FRED.