Hours: Hours Worked: Manufacturing: Weekly for United States
Quarterly, Seasonally Adjusted
HOHWMN02USQ065S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40.73
Year-over-Year Change
-0.65%
Date Range
1/1/1960 - 7/1/2023
Summary
The Quarterly, Seasonally Adjusted trend measures the average hours worked per week by production and nonsupervisory employees in the manufacturing sector. This metric is a key indicator of labor market conditions and industrial activity.
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 represents the average number of hours worked per week by production and nonsupervisory employees in U.S. manufacturing. It is a widely tracked economic indicator that provides insights into labor productivity, production capacity, and overall business conditions.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts closely monitor this trend to assess the health of the manufacturing sector and broader economy.
Key Facts
- Manufacturing accounts for about 11% of U.S. GDP.
- The average workweek in manufacturing has declined from over 40 hours in the 1950s to around 40 hours today.
- Productivity gains have allowed manufacturers to produce more with fewer hours worked.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by production and nonsupervisory employees in the U.S. manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: The average manufacturing workweek is a key indicator of labor market conditions and industrial activity, providing insights into productivity, production capacity, and the overall health of the manufacturing sector.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor this trend to assess the strength of the manufacturing sector and broader economy, which can inform decisions on monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The data is released monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Quarterly, Seasonally Adjusted (HOHWMN02USQ065S), retrieved from FRED.