Average Weekly Hours of Production Employees: Manufacturing: Durable Goods in Arkansas
SMU05000003100000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40.60
Year-over-Year Change
-4.02%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic indicator tracks the average weekly hours worked by production employees in the durable goods manufacturing sector in Arkansas. It provides insights into labor market conditions and production activity in the state's manufacturing industry.
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 metric represents the average number of hours worked per week by production employees in durable goods manufacturing facilities located in Arkansas. This measure is used by economists and policymakers to monitor labor utilization and production trends in the state's manufacturing sector.
Methodology
The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in average weekly hours can inform economic and labor market policies at the state level.
Key Facts
- Arkansas durable goods manufacturing accounts for over 15% of the state's total employment.
- Average weekly hours peaked at 44.4 in December 2021.
- Weekly hours have declined from the pandemic high but remain above pre-COVID levels.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the average number of hours worked per week by production employees in the durable goods manufacturing sector in Arkansas.
Q: Why is this trend relevant for users or analysts?
A: Trends in average weekly hours provide insights into labor utilization and production activity in Arkansas's manufacturing industry, which is an important component 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: Policymakers and economists use this indicator to monitor labor market conditions and production trends in Arkansas, which can inform economic and employment policies at the state level.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical lag of around one month.
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Citation
U.S. Federal Reserve, Average Weekly Hours of Production Employees: Manufacturing: Durable Goods in Arkansas (SMU05000003100000007A), retrieved from FRED.