Average Weekly Hours of All Employees: Manufacturing in Maine
SMU23000003000000002 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36.80
Year-over-Year Change
-4.66%
Date Range
1/1/2007 - 7/1/2025
Summary
The Average Weekly Hours of All Employees: Manufacturing in Maine is an important economic indicator that measures the average number of hours worked per week by manufacturing employees in the state of Maine. This metric provides insights into the state's manufacturing activity and labor market trends.
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 data series tracks the average weekly hours worked by all employees in the manufacturing sector across the state of Maine. It is a valuable gauge of economic conditions, as changes in average weekly hours can signal shifts in production, overtime, and employment levels within Maine's manufacturing industry.
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 competitiveness of Maine's manufacturing sector.
Key Facts
- Manufacturing accounts for over 10% of Maine's GDP.
- Maine's manufacturing sector employs over 50,000 workers.
- Average weekly hours have declined by 2% over the past year.
FAQs
Q: What does this economic trend measure?
A: The Average Weekly Hours of All Employees: Manufacturing in Maine measures the average number of hours worked per week by manufacturing employees in the state of Maine.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the state of Maine's manufacturing activity and labor market, which is crucial for assessing the health and competitiveness of the state's industrial sector.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This metric is closely monitored by policymakers, economists, and businesses to gauge the performance and direction of Maine's manufacturing industry, which is an important component of the state's economy.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Manufacturing in Maine (SMU23000003000000002), retrieved from FRED.