All Employees: Goods Producing in Minnesota
Annual
SMU27000000600000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
465.30
Year-over-Year Change
14.13%
Date Range
1/1/1990 - 1/1/2024
Summary
The Annual economic trend measures the total number of hours worked per year in the United States. It is a key indicator of labor market conditions and overall economic activity.
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 total number of hours worked across all sectors of the U.S. economy over a 12-month period. This metric provides insight into the utilization of the labor force and productivity trends, which are important for understanding the health and direction of the broader economy.
Methodology
The data is collected through employer surveys and calculated by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use the Annual trend to assess the strength of the economy and inform decisions related to employment, wages, and growth.
Key Facts
- The Annual series dates back to 1939.
- Total annual hours worked peaked in 2019 before declining due to the COVID-19 pandemic.
- The data is released on a monthly basis with a two-month lag.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the total number of hours worked per year across all sectors of the U.S. economy.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend provides insights into labor market conditions, productivity, and the overall health of the economy, which are important for policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys and calculated by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use the Annual trend to assess the strength of the economy and inform decisions related to employment, wages, and growth.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a two-month lag.
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Citation
U.S. Federal Reserve, Annual (SMU27000000600000001A), retrieved from FRED.