Average Weekly Hours of All Employees: Manufacturing in Indiana
SMU18000003000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40.00
Year-over-Year Change
-2.91%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Hours of All Employees: Manufacturing in Indiana metric tracks the average number of hours worked per week by manufacturing employees in the state. This provides important insights into the productivity and labor market conditions of Indiana's 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 economic indicator measures the average weekly hours worked by all employees in the manufacturing industry across Indiana. It serves as a key gauge of labor utilization and productivity within the state's manufacturing base, which is an important driver of economic activity.
Methodology
The data is collected through monthly surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is closely monitored by policymakers, economists, and businesses to assess the health and outlook of Indiana's manufacturing industry.
Key Facts
- Indiana's manufacturing sector accounts for over 17% of the state's GDP.
- Average weekly hours peaked at 42.4 in October 2021.
- Manufacturing is the second-largest private-sector employer in Indiana.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average number of hours worked per week by employees in Indiana's manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: It provides insights into labor productivity and utilization within a key driver of Indiana's economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly employer surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and businesses monitor this metric to assess the health and outlook of Indiana's manufacturing industry.
Q: Are there update delays or limitations?
A: The data is released monthly with a lag of several weeks.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Manufacturing in Indiana (SMU18000003000000002A), retrieved from FRED.