Hours Worked for Mining: Coal Mining (NAICS 21211) in the United States
Millions of Hours
IPUBN21211L200000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
100.93
Year-over-Year Change
-51.27%
Date Range
1/1/1987 - 1/1/2024
Summary
The 'Millions of Hours' trend measures the total number of hours worked in the U.S. manufacturing sector. This provides insight into labor utilization and productivity levels.
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 'Millions of Hours' series represents the total volume of labor input, calculated by multiplying the number of employees by the average weekly hours worked. This metric is a key economic indicator used to assess the health and capacity of the manufacturing industry.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts monitor this trend to gauge overall economic activity and guide decisions on interest rates, production, and employment.
Key Facts
- The series has been published monthly since 1939.
- Manufacturing accounts for approximately 11% of U.S. GDP.
- Hours worked is a leading indicator of manufacturing output.
FAQs
Q: What does this economic trend measure?
A: The 'Millions of Hours' trend measures the total number of hours worked in the U.S. manufacturing sector, providing insight into labor utilization and productivity.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key economic indicator used to assess the health and capacity of the manufacturing industry, which is crucial for understanding overall economic activity.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to gauge overall economic activity and guide decisions on interest rates, production, and employment.
Q: Are there update delays or limitations?
A: The series has been published monthly since 1939, with no known significant delays or limitations.
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Citation
U.S. Federal Reserve, Millions of Hours (IPUBN21211L200000000), retrieved from FRED.