Hours Worked for Other Services (Except Public Administration): Social Advocacy Organizations (NAICS 81331) in the United States
Millions of Hours
IPUUN81331L200000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
467.38
Year-over-Year Change
38.28%
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 sector. This key indicator provides insights into production capacity, labor demand, and economic growth.
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' metric tracks the aggregate number of hours worked by production and nonsupervisory employees in the U.S. manufacturing industry. It serves as a proxy for overall manufacturing activity and output, reflecting changes in labor utilization and capacity utilization.
Methodology
The data is collected through surveys of manufacturing establishments and compiled by the U.S. Bureau of Labor Statistics.
Historical Context
The 'Millions of Hours' trend is closely monitored by policymakers, economists, and market analysts to assess the health and direction of the U.S. manufacturing sector.
Key Facts
- Manufacturing accounts for about 11% of U.S. GDP.
- The U.S. manufacturing sector employs over 12 million workers.
- Manufacturing productivity has increased by over 50% since the 1980s.
FAQs
Q: What does this economic trend measure?
A: The 'Millions of Hours' trend 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 insights into manufacturing activity, labor demand, and production capacity, making it a key indicator for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturing establishments and compiled by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The 'Millions of Hours' trend is closely monitored by policymakers, economists, and market analysts to assess the health and direction of the U.S. manufacturing sector.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical 1-2 month delay, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Millions of Hours (IPUUN81331L200000000), retrieved from FRED.