Average Weekly Hours of All Employees: Goods Producing in the District of Columbia
SMU11000000600000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38.50
Year-over-Year Change
4.34%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic trend measures the average weekly hours worked by all employees in the goods-producing sector in the District of Columbia. It provides insight into labor market conditions and production output in the region.
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 tracks the average number of hours employees in the goods-producing industries, such as manufacturing and construction, work per week in the District of Columbia. This data point is a key indicator of economic activity and labor market health in the local economy.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists use this metric to gauge the strength of the local economy and labor market.
Key Facts
- The metric is reported monthly by the U.S. Bureau of Labor Statistics.
- Average weekly hours in the goods-producing sector in D.C. have ranged from 36.3 to 40.1 over the past decade.
- Trends in this metric can signal changes in production, hiring, and economic conditions in the local market.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours per week worked by all employees in the goods-producing industries, such as manufacturing and construction, in the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor market conditions and production output in the local D.C. economy, which is relevant for policymakers, economists, and businesses operating in the region.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to gauge the strength of the local economy and labor market, which can inform decisions around economic development, workforce policies, and other initiatives.
Q: Are there update delays or limitations?
A: The data is reported monthly with a short lag, and may be subject to revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Goods Producing in the District of Columbia (SMU11000000600000002A), retrieved from FRED.