Hours: Hours Worked: Manufacturing: Weekly for United States
HOHWMN02USM065S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40.60
Year-over-Year Change
-0.49%
Date Range
1/1/1960 - 11/1/2023
Summary
The 'Hours: Hours Worked: Manufacturing: Weekly for United States' trend measures the average number of hours worked per week in the U.S. manufacturing sector. This metric is a key indicator of production capacity and labor market conditions.
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 weekly series provides an overview of the labor input for the U.S. manufacturing industry. It represents the average number of hours worked per employee, which reflects both the number of employees and the total hours worked across the sector.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists closely monitor this trend to assess the health and productivity of the manufacturing economy.
Key Facts
- The average manufacturing worker in the U.S. works around 40 hours per week.
- Manufacturing accounts for approximately 11% of total U.S. employment.
- Weekly hours worked in manufacturing reached a low of 37.7 hours during the 2008-2009 recession.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by employees in the U.S. manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of production capacity and labor market conditions in the manufacturing industry, which is a crucial part of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the health and productivity of the manufacturing economy, which informs decision-making on economic policies.
Q: Are there update delays or limitations?
A: This series is updated weekly by the Federal Reserve, with a typical release lag of 1-2 weeks.
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Citation
U.S. Federal Reserve, Hours: Hours Worked: Manufacturing: Weekly for United States (HOHWMN02USM065S), retrieved from FRED.