Average Weekly Hours of All Employees: Total Private in Minnesota
Annual
SMU27000000500000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
33.10
Year-over-Year Change
-1.49%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the annual average of monthly employment levels in the total private goods-producing sector. It provides a broad overview of long-term employment patterns in the private goods production industry.
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 series tracks the annual average of employment figures for the total private goods-producing sector in the United States. This metric is closely monitored by economists and policymakers to gauge the overall health and trajectory of the production-oriented segments of the private economy.
Methodology
The data is collected through a monthly survey of businesses across the United States.
Historical Context
Trends in private goods-producing employment are a key input for assessing the broader state of the economy and can inform policy decisions.
Key Facts
- The annual average employment level in the private goods-producing sector was 17.3 million in 2022.
- Private goods-producing employment has declined from a peak of 22.5 million in 1979.
- The goods-producing sector accounts for about 13% of total private employment in the U.S.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the annual average of monthly employment levels in the total private goods-producing sector of the U.S. economy.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a high-level overview of employment patterns in the production-oriented segments of the private economy, which is an important indicator of broader economic health and activity.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of businesses across the United States.
Q: How is this trend used in economic policy?
A: Trends in private goods-producing employment are closely monitored by economists and policymakers as inputs for assessing the state of the economy and informing policy decisions.
Q: Are there update delays or limitations?
A: The Annual data is published with a lag, and there may be revisions to previous months' figures as more complete information becomes available.
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Citation
U.S. Federal Reserve, Annual (SMU27000000500000002A), retrieved from FRED.