Hours Worked for Wholesale Trade: Wholesale Electronic Markets and Agents and Brokers (NAICS 4251) in the United States
Millions of Hours
IPUGN4251L200000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
939.86
Year-over-Year Change
-12.21%
Date Range
1/1/1987 - 1/1/2024
Summary
The 'Millions of Hours' trend measures the total number of hours worked across the U.S. manufacturing industry. It provides an important indicator of economic activity and labor utilization.
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 monthly economic indicator tracks the total number of production hours worked in the U.S. manufacturing sector. It is a key metric used by economists and policymakers to assess the health and performance of the manufacturing industry.
Methodology
The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in manufacturing hours worked are closely monitored by the Federal Reserve and other economic institutions.
Key Facts
- The manufacturing sector accounts for about 11% of U.S. GDP.
- Total manufacturing hours peaked in 2018 at over 42 billion hours.
- Hours worked declined sharply during the COVID-19 pandemic in 2020.
FAQs
Q: What does this economic trend measure?
A: The 'Millions of Hours' trend measures the total number of production hours worked across the U.S. manufacturing industry on a monthly basis.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insight into the health and performance of the U.S. manufacturing sector, which is a key driver of overall economic activity.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of manufacturing establishments conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in manufacturing hours worked are closely monitored by the Federal Reserve and other economic institutions to assess the state of the economy and inform policy decisions.
Q: Are there update delays or limitations?
A: The 'Millions of Hours' data is released on a monthly basis with a typical delay of 1-2 months.
Related Trends
Hourly Compensation for Wholesale Trade: Chemical and Allied Products Merchant Wholesalers (NAICS 4246) in the United States
IPUGN4246U121000000
Real Sectoral Output for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 4242) in the United States
IPUGN4242T011000000
Labor Compensation for Wholesale Trade: Merchant Wholesalers, Nondurable Goods (NAICS 424) in the United States
IPUGN424U110000000
Sectoral Output for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 4242) in the United States
IPUGN4242T300000000
Hours Worked for Wholesale Trade: Beer, Wine, and Distilled Alcoholic Beverage Merchant Wholesalers (NAICS 4248) in the United States
IPUGN4248L200000000
Hourly Compensation for Wholesale Trade: Professional and Commercial Equipment and Supplies Merchant Wholesalers (NAICS 4234) in the United States
IPUGN4234U120000000
Citation
U.S. Federal Reserve, Millions of Hours (IPUGN4251L200000000), retrieved from FRED.