Average Weekly Hours of All Employees: Goods Producing in Minnesota
SMU27000000600000002 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
39.70
Year-over-Year Change
-0.75%
Date Range
1/1/2007 - 6/1/2025
Summary
The Average Weekly Hours of All Employees: Goods Producing in Minnesota is an economic indicator that measures the average number of hours worked per week by goods-producing employees in the state of Minnesota. This metric provides insights into 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
This series tracks the average weekly hours worked by employees in Minnesota's goods-producing industries, which include manufacturing, construction, and mining. It is a key indicator of economic activity and labor utilization, and is used by economists and policymakers to assess the health of the state's manufacturing and industrial sectors.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in average weekly hours can inform decisions around monetary and fiscal policy, as well as guide business and investment strategies.
Key Facts
- Minnesota's goods-producing sector employs over 400,000 workers.
- Average weekly hours peaked at 42.7 in June 2018.
- The series has a seasonal pattern with higher hours in the summer months.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by employees in Minnesota's goods-producing industries, including manufacturing, construction, and mining.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor market conditions, productivity, and the overall health of Minnesota's industrial and manufacturing sectors, which are important for economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in average weekly hours can inform decisions around monetary and fiscal policy, as well as guide business and investment strategies.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical lag of one to two months.
Similar SMU Trends
All Employees: Service-Providing in Minnesota
SMU27000000700000001
Gross Domestic Product: Water Transportation (483) in Minnesota
MNWATTRANNGSP
All Employees: Financial Activities: Nondepository Credit Intermediation in Minnesota
SMU27000005552220001SA
Interbank Deposits in All Commercial Banks in Minnesota
X08IOACBIMN
Chain-Type Quantity Index for Real GDP: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Minnesota
MNRENTQGSP
Value of Exports to Latvia from Minnesota
MNLVAA052SCEN
Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Goods Producing in Minnesota (SMU27000000600000002), retrieved from FRED.