Average Hourly Earnings of Production Employees: Manufacturing in Maryland
Annual
SMU24000003000000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26.72
Year-over-Year Change
60.38%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual trend measures the average weekly hours worked per employee in the private sector in the United States. It is a key indicator of labor market conditions 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 trend tracks the average number of hours worked per week by private sector employees in the U.S. It provides insight into the intensity of labor utilization and is widely used by economists and policymakers to analyze employment and economic trends.
Methodology
The data is collected through surveys of private sector employers by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual trend is monitored by the Federal Reserve and other institutions to gauge the strength of the labor market and inform economic policy decisions.
Key Facts
- The average weekly hours worked in the U.S. private sector is around 34.5 hours.
- Annual trend data dates back to the 1960s, providing long-term historical context.
- Fluctuations in the Annual trend often coincide with broader economic cycles.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average number of hours worked per week by employees in the U.S. private sector.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend provides insight into labor market conditions and productivity, which are key factors in understanding the overall health of the economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private sector employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Annual trend is monitored by the Federal Reserve and other institutions to gauge the strength of the labor market and inform economic policy decisions.
Q: Are there update delays or limitations?
A: The Annual trend data is published monthly with a typical lag of around one month.
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Citation
U.S. Federal Reserve, Annual (SMU24000003000000008A), retrieved from FRED.