Average Weekly Hours of Production Employees: Durable Goods: Fabricated Metal Product Manufacturing in Indiana
SMU18000003133200007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
42.30
Year-over-Year Change
-0.94%
Date Range
1/1/2001 - 1/1/2024
Summary
The 'Average Weekly Hours of Production Employees: Durable Goods: Fabricated Metal Product Manufacturing in Indiana' trend measures the average number of hours worked per week by production employees in the fabricated metal product manufacturing industry in Indiana. This metric is a key economic indicator for analysts and policymakers.
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 tracks the average number of hours worked per week by production employees in the fabricated metal product manufacturing industry within the state of Indiana. It is an important indicator of labor market conditions and production capacity in this crucial manufacturing sector.
Methodology
The data is collected through monthly surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend provides insight into the state of Indiana's industrial economy and is used by economists, investors, and policymakers to assess economic performance and guide decision-making.
Key Facts
- Indiana is a major hub for fabricated metal product manufacturing.
- This industry accounts for over 100,000 jobs in the state.
- Weekly hours peaked at 44.6 in January 2022.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by production employees in the fabricated metal product manufacturing industry in the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor market conditions and production capacity in a key manufacturing sector, which is important for assessing the health of Indiana's industrial economy.
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: This trend is used by economists, investors, and policymakers to analyze the performance of Indiana's industrial sector and guide decisions related to economic development, workforce planning, and manufacturing policy.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Average Weekly Hours of Production Employees: Durable Goods: Fabricated Metal Product Manufacturing in Indiana (SMU18000003133200007A), retrieved from FRED.