Average Weekly Hours of Production Employees: Manufacturing: Non-Durable Goods in Arizona
SMU04000003200000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
35.30
Year-over-Year Change
-16.94%
Date Range
1/1/2001 - 1/1/2024
Summary
The 'Average Weekly Hours of Production Employees: Manufacturing: Non-Durable Goods in Arizona' trend measures the average number of hours worked per week by production employees in the non-durable goods manufacturing sector in Arizona.
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 metric provides insight into the productivity and labor utilization of Arizona's non-durable goods manufacturing industry. It is a leading economic indicator used by analysts and policymakers to gauge the health and outlook of the state's manufacturing sector.
Methodology
The data is collected through a monthly survey of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by the Federal Reserve and other economic institutions to assess regional manufacturing activity and inform policy decisions.
Key Facts
- Arizona's non-durable goods manufacturing accounts for over 20% of the state's total manufacturing output.
- Average weekly hours peaked at 42.5 in 2017 before declining to 40.8 in 2022.
- Manufacturing represents approximately 7% of Arizona's total non-farm employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by production employees in the non-durable goods manufacturing sector in Arizona.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the productivity and labor utilization of Arizona's non-durable goods manufacturing industry, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by the Federal Reserve and other economic institutions to assess regional manufacturing activity and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is released monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Average Weekly Hours of Production Employees: Manufacturing: Non-Durable Goods in Arizona (SMU04000003200000007A), retrieved from FRED.