Average Weekly Hours of All Employees: Goods Producing in Arkansas
SMU05000000600000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40.20
Year-over-Year Change
-1.71%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Weekly Hours of All Employees: Goods Producing in Arkansas' measures the average number of hours worked per week by goods-producing employees in Arkansas. This metric provides insights into the state's industrial output and labor market conditions.
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 represents the average weekly hours for all employees in the goods-producing sector in Arkansas, which includes manufacturing, mining, and construction. It is a key indicator of labor productivity and demand in the state's industrial economy.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is used by policymakers, economists, and businesses to analyze Arkansas' economic performance and employment dynamics.
Key Facts
- Arkansas' average weekly hours for goods-producing employees was 42.5 in 2022.
- Manufacturing accounts for the largest share of goods-producing employment in Arkansas.
- Average weekly hours in Arkansas' goods-producing sector have remained relatively stable over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by all employees in the goods-producing sector of Arkansas, including manufacturing, mining, and construction.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor productivity, industrial output, and employment dynamics in Arkansas' goods-producing industries, which are crucial for understanding the state's economic performance.
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: Policymakers, economists, and businesses use this trend to analyze Arkansas' industrial sector and labor market conditions, which informs economic policies and business decisions.
Q: Are there update delays or limitations?
A: The data is released monthly by the U.S. Bureau of Labor Statistics, with a typical delay of a few weeks from the end of the reference period.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Goods Producing in Arkansas (SMU05000000600000002A), retrieved from FRED.