Average Weekly Hours of Production Employees: Manufacturing in Louisiana
Annual
SMU22000003000000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
45.80
Year-over-Year Change
7.51%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual trend measures the annual average growth rate for total nonfarm employment in the United States. This metric provides valuable insights into the overall health and direction of the U.S. labor market.
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 Annual trend represents the year-over-year change in total nonfarm employment, which includes jobs in the private sector and government. It is a key indicator used by economists and policymakers to assess the strength and trajectory of the broader economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Labor Statistics based on monthly surveys of U.S. businesses.
Historical Context
The Annual trend is closely monitored by the Federal Reserve and other institutions to inform economic policy decisions.
Key Facts
- The U.S. economy added an average of 2.1 million jobs per year from 2010 to 2019.
- The Annual growth rate reached a low of -5.8% in 2020 due to the COVID-19 pandemic.
- Employment in the service sector accounts for the majority of U.S. nonfarm jobs.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year change in total nonfarm employment in the United States, providing insights into the overall health of the labor market.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend is a key indicator used by economists and policymakers to assess the strength and direction of the broader U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Labor Statistics based on monthly surveys of U.S. businesses.
Q: How is this trend used in economic policy?
A: The Annual trend is closely monitored by the Federal Reserve and other institutions to inform economic policy decisions.
Q: Are there update delays or limitations?
A: The Annual data is typically released on a monthly basis with a short delay, providing timely insights into the U.S. labor market.
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Citation
U.S. Federal Reserve, Annual (SMU22000003000000007A), retrieved from FRED.