Hours Worked for Other Services (Except Public Administration): Repair and Maintenance (NAICS 811) in the United States
Millions of Hours
IPUUN811L200000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,463.19
Year-over-Year Change
14.27%
Date Range
1/1/1987 - 1/1/2024
Summary
This series measures the total number of hours worked by production and nonsupervisory employees in the U.S. manufacturing sector. It is a key indicator of labor market health and industrial output.
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 trend tracks the total number of hours worked across manufacturing industries. It provides insight into the utilization of labor resources and can signal changes in production capacity and economic activity.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to assess the state of the manufacturing economy and guide decisions on interest rates, production, and employment.
Key Facts
- Manufacturing accounts for 11.4% of U.S. GDP.
- Total manufacturing hours peaked at 17.7 billion in 1943.
- Hours worked declined during the 2008-2009 recession but have since recovered.
FAQs
Q: What does this economic trend measure?
A: The Millions of Hours series measures the total number of hours worked by production and nonsupervisory employees in the U.S. manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the utilization of labor resources in manufacturing and can signal changes in production capacity and economic activity.
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 analysts use this metric to assess the state of the manufacturing economy and guide decisions on interest rates, production, and employment.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Millions of Hours (IPUUN811L200000000), retrieved from FRED.