Average Weekly Hours of All Employees: Goods Producing in Arizona
SMU04000000600000002 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
39.20
Year-over-Year Change
-3.69%
Date Range
1/1/2007 - 6/1/2025
Summary
This economic indicator tracks the average weekly hours worked by all employees in the goods-producing sector in Arizona. It provides insights into the labor market and production activity in the state.
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 Average Weekly Hours of All Employees: Goods Producing in Arizona measure the average number of hours per week worked by employees in the goods-producing industries, which include manufacturing, construction, and mining. This metric is used by economists and policymakers to assess the health and productivity of the state's industrial sector.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is monitored by government agencies, analysts, and businesses to understand labor market dynamics and guide economic and policy decisions.
Key Facts
- Arizona's goods-producing sector accounts for approximately 15% of the state's total employment.
- The average weekly hours worked in the goods-producing industries have remained relatively stable over the past decade.
- Fluctuations in this indicator can signal changes in demand, production levels, and hiring patterns in Arizona's industrial sector.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the average number of hours per week worked by employees in the goods-producing industries in Arizona, including manufacturing, construction, and mining.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the labor market and production activity in Arizona's industrial sector, which is an important driver of the state's economy.
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: Government agencies, analysts, and businesses monitor this indicator to understand labor market dynamics and guide economic and policy decisions related to the industrial sector in Arizona.
Q: Are there update delays or limitations?
A: The data is typically published on a monthly basis, with a slight delay to allow for data collection and processing.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Goods Producing in Arizona (SMU04000000600000002), retrieved from FRED.