Average Weekly Hours of Production Employees: Manufacturing: Durable Goods in Arizona
SMU04000003100000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
43.80
Year-over-Year Change
7.62%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic trend measures the average weekly hours worked by production employees in the durable goods manufacturing sector in Arizona. It provides insight into labor demand and productivity in this key component of the state's economy.
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 trend for durable goods manufacturing in Arizona is an important indicator of labor utilization and production capacity in this crucial industry. It is closely monitored by economists, policymakers, and businesses to assess economic conditions and inform decisions.
Methodology
The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is widely used to gauge the health of Arizona's manufacturing sector and its broader economic performance.
Key Facts
- Arizona is a major hub for durable goods manufacturing.
- Weekly hours in this sector provide insights into labor demand.
- This trend is a leading indicator of economic conditions in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly hours worked by production employees in the durable goods manufacturing sector in Arizona.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely watched by economists, policymakers, and businesses as an indicator of labor utilization, production capacity, and overall economic conditions in Arizona's manufacturing industry.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, analysts, and businesses to gauge the health of Arizona's manufacturing sector and inform economic decisions and policies.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical lag of a few weeks.
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Citation
U.S. Federal Reserve, Average Weekly Hours of Production Employees: Manufacturing: Durable Goods in Arizona (SMU04000003100000007A), retrieved from FRED.