All Employees: Leisure and Hospitality in Maine
Annual, Not Seasonally Adjusted
SMU23000007000000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
69.70
Year-over-Year Change
12.60%
Date Range
1/1/1990 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' trend measures the total average weekly hours worked by all employees in the manufacturing sector in the United States. This metric provides insights into labor market activity and production levels.
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 annual, non-seasonally adjusted data series tracks the average number of hours worked per week by manufacturing employees in the U.S. It serves as an indicator of labor utilization and productivity within the manufacturing industry.
Methodology
The data is collected through monthly surveys of U.S. businesses and establishments.
Historical Context
Policymakers and analysts use this trend to assess the health and output of the manufacturing sector.
Key Facts
- The average manufacturing workweek was 40.2 hours in 2021.
- Manufacturing accounts for approximately 11% of U.S. GDP.
- The manufacturing sector employs over 12 million workers in the U.S.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly hours worked by all employees in the U.S. manufacturing sector on an annual, non-seasonally adjusted basis.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor utilization and productivity within the manufacturing industry, which is a key component of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of U.S. businesses and establishments.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the health and output of the manufacturing sector, which informs economic and labor market policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (SMU23000007000000001A), retrieved from FRED.