Average Weekly Hours of All Employees: Manufacturing in Hawaii
SMU15000003000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.00
Year-over-Year Change
5.11%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Weekly Hours of All Employees: Manufacturing in Hawaii' tracks the average number of hours worked per week by manufacturing employees in the state of Hawaii. This metric is a key indicator of labor utilization and economic activity in the local manufacturing sector.
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 number of hours that all employees in the manufacturing industry in Hawaii work per week. It is used by economists and policymakers to monitor trends in labor productivity, output, and overall economic conditions in the state's manufacturing sector.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in this metric can inform decisions around economic and workforce policies in Hawaii.
Key Facts
- Hawaii's manufacturing sector employs over 15,000 workers.
- The average workweek in Hawaii manufacturing is around 41 hours.
- Manufacturing accounts for approximately 2% of Hawaii's gross state product.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by all employees in Hawaii's manufacturing industry.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor utilization and productivity in Hawaii's manufacturing sector, which is important for understanding the state's overall economic conditions.
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: Trends in this metric can inform decisions around economic and workforce policies in Hawaii, such as those related to labor markets and industrial development.
Q: Are there update delays or limitations?
A: This data is published monthly with a typical lag of 1-2 months.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Manufacturing in Hawaii (SMU15000003000000002A), retrieved from FRED.