Average Weekly Hours of Production Employees: Manufacturing in Alabama
SMU01000003000000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
41.30
Year-over-Year Change
-3.05%
Date Range
1/1/2001 - 1/1/2024
Summary
The Average Weekly Hours of Production Employees in Manufacturing for Alabama tracks the average number of hours worked per week by production employees in the state's manufacturing sector. This metric is a key indicator of employment and economic 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 measures the average number of hours worked per week by production employees in Alabama's manufacturing industry. It provides insights into workforce utilization, labor demand, and overall economic conditions in the state.
Methodology
The data is collected through monthly surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is used by economists, policymakers, and businesses to analyze labor market dynamics and assess the health of Alabama's manufacturing sector.
Key Facts
- Alabama's manufacturing sector employs over 270,000 people.
- The average weekly hours peaked at 44.5 in 2018.
- Manufacturing accounts for approximately 17% of Alabama's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by production employees in Alabama's manufacturing industry.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into workforce utilization, labor demand, and the overall health of Alabama's manufacturing sector, which is a crucial part of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and businesses use this trend to analyze labor market dynamics and assess the performance of Alabama's manufacturing industry, which informs economic policies and business decisions.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Average Weekly Hours of Production Employees: Manufacturing in Alabama (SMU01000003000000007A), retrieved from FRED.