Average Weekly Hours of Production Employees: Manufacturing in Delaware
SMU10000003000000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40.60
Year-over-Year Change
10.63%
Date Range
1/1/2006 - 1/1/2024
Summary
The Average Weekly Hours of Production Employees: Manufacturing in Delaware metric tracks the average number of hours worked per week by manufacturing production workers in the state of Delaware. This data point is a key indicator of economic activity 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 manufacturing labor statistic provides insight into the productivity and utilization of the Delaware workforce. Economists and policymakers monitor trends in average weekly hours to assess the health of the state's industrial sector and make informed decisions about economic policy.
Methodology
The data is collected through monthly surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Changes in average weekly hours can signal shifts in consumer demand, production levels, and employment, making this metric relevant for analyzing Delaware's economic performance.
Key Facts
- Delaware's manufacturing sector accounts for over 10% of the state's GDP.
- Average weekly hours peaked at 43.2 in January 2022 before declining.
- The metric has remained above the national average for manufacturing workers.
FAQs
Q: What does this economic trend measure?
A: The Average Weekly Hours of Production Employees: Manufacturing in Delaware metric tracks the average number of hours worked per week by manufacturing production workers in the state.
Q: Why is this trend relevant for users or analysts?
A: This data point provides insight into the productivity and utilization of Delaware's manufacturing workforce, which is a key indicator of economic activity and labor market conditions in the state.
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: Changes in average weekly hours can signal shifts in consumer demand, production levels, and employment, making this metric relevant for analyzing Delaware's economic performance and informing policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical release lag of several weeks.
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Citation
U.S. Federal Reserve, Average Weekly Hours of Production Employees: Manufacturing in Delaware (SMU10000003000000007A), retrieved from FRED.