Average Weekly Hours of Production Employees: Manufacturing: Durable Goods in Louisiana
SMU22000003100000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
44.40
Year-over-Year Change
-3.06%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic indicator tracks the average weekly hours worked by production employees in the durable goods manufacturing sector in Louisiana. It provides insight into the state's manufacturing activity and labor market dynamics.
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 of Production Employees: Manufacturing: Durable Goods in Louisiana metric represents the mean number of hours worked per week by production staff in the state's durable goods manufacturing industries. This data point is used by economists and policymakers to assess the health and productivity of Louisiana's manufacturing sector.
Methodology
The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This indicator offers valuable context for understanding Louisiana's economic conditions and can inform policy decisions related to employment, workforce development, and industrial production.
Key Facts
- Louisiana's durable goods manufacturing accounts for over 20% of the state's total industrial output.
- Average weekly hours for production workers in this sector have remained relatively stable over the past decade.
- Fluctuations in this indicator can signal changes in demand, productivity, or labor market conditions.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average number of hours worked per week by production employees in Louisiana's durable goods manufacturing industries.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the health and productivity of Louisiana's manufacturing sector, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this indicator to assess labor market conditions, workforce needs, and the overall competitiveness of Louisiana's manufacturing industries.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, with some lag from the reference period, but it provides a timely and reliable representation of manufacturing activity in Louisiana.
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Citation
U.S. Federal Reserve, Average Weekly Hours of Production Employees: Manufacturing: Durable Goods in Louisiana (SMU22000003100000007A), retrieved from FRED.