Average Weekly Hours of All Employees: Manufacturing in Delaware
SMU10000003000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
34.60
Year-over-Year Change
-8.22%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic trend measures the average weekly hours worked by all employees in the manufacturing sector in Delaware. It provides insights into the state's industrial production and labor utilization.
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: Manufacturing in Delaware is a key indicator of economic activity and labor market conditions in the state's manufacturing industry. It reflects the typical number of hours worked per week by employees, which can signal changes in production, overtime, and staffing levels.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by policymakers, economists, and businesses to assess the health of Delaware's manufacturing sector and broader economic conditions.
Key Facts
- Delaware's manufacturing sector accounts for over 10% of the state's GDP.
- Average weekly hours peaked at 43.1 in 2019 before declining during the COVID-19 pandemic.
- Manufacturing is a major employer in Delaware, accounting for over 30,000 jobs.
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 manufacturing sector in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the production and labor utilization of Delaware's 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 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 monitor this trend to assess the health of Delaware's manufacturing sector and make informed decisions about economic policy and business strategy.
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 one to two months.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Manufacturing in Delaware (SMU10000003000000002A), retrieved from FRED.