Average Weekly Hours of Production Employees: Manufacturing in Massachusetts
SMU25000003000000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38.20
Year-over-Year Change
-4.02%
Date Range
1/1/2001 - 1/1/2024
Summary
The 'Average Weekly Hours of Production Employees: Manufacturing in Massachusetts' trend measures the average number of hours worked per week by manufacturing production employees in the state of Massachusetts. This metric provides insight into the productivity and labor utilization within the Massachusetts manufacturing sector.
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 economic indicator tracks the weekly working hours of production staff in Massachusetts manufacturing facilities. It offers a valuable snapshot of labor market conditions and productivity trends in this key industrial sector of the state's economy.
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 monitor this metric to assess the health and activity levels of Massachusetts' manufacturing industry.
Key Facts
- The average weekly hours for Massachusetts manufacturing production workers was 40.1 in August 2022.
- This metric has declined from a peak of 42.4 hours in January 2020 before the COVID-19 pandemic.
- Manufacturing accounts for over 9% of Massachusetts' total GDP.
FAQs
Q: What does this economic trend measure?
A: The 'Average Weekly Hours of Production Employees: Manufacturing in Massachusetts' tracks the average number of hours worked per week by manufacturing production staff in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insight into the productivity, labor utilization, and overall health of Massachusetts' manufacturing sector, which is an important driver of the state's economy.
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 monitor this manufacturing hours indicator to assess labor market conditions and support policy decisions related to the state's industrial base.
Q: Are there update delays or limitations?
A: This data is published monthly with a typical lag of 1-2 months from the reference period.
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Citation
U.S. Federal Reserve, Average Weekly Hours of Production Employees: Manufacturing in Massachusetts (SMU25000003000000007A), retrieved from FRED.