All Employees: Manufacturing in Maryland
Annual, Not Seasonally Adjusted
SMU24000003000000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
110.20
Year-over-Year Change
-1.25%
Date Range
1/1/1990 - 1/1/2024
Summary
This trend measures the total annual number of hours worked by employees in the private sector in the United States. It provides important insights into overall labor market activity and productivity.
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, Not Seasonally Adjusted total private sector hours worked series captures the total number of hours employees in the U.S. private sector worked over the course of a year. This metric is a key indicator of the overall health and utilization of the labor force.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists closely monitor this trend to assess macroeconomic conditions and inform employment and labor market policies.
Key Facts
- The average American worker logged 1,796 hours in 2021.
- Private sector hours worked fell sharply during the COVID-19 pandemic.
- Hours worked tend to rise during periods of strong economic growth.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of hours worked by employees in the U.S. private sector over the course of a year.
Q: Why is this trend relevant for users or analysts?
A: The total private sector hours worked is a key indicator of labor market health and productivity, providing insights into overall economic conditions.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this trend to assess macroeconomic conditions and inform employment and labor market policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical release lag of around one month.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (SMU24000003000000001A), retrieved from FRED.