Average Weekly Hours of Production Employees: Manufacturing in Mississippi
Annual
SMU28000003000000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40.50
Year-over-Year Change
-2.88%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual trend measures the average number of hours worked per week by all employees in the nonfarm business sector of the U.S. economy. This metric is a key indicator of labor productivity 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 trend reflects the average number of hours worked per week by all employees in the nonfarm business sector, excluding government, private households, and nonprofit organizations. This data point is used by economists and policymakers to assess broader trends in labor utilization and productivity.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual trend provides important context for interpreting employment, output, and economic growth metrics.
Key Facts
- The average work week in the U.S. nonfarm business sector is around 34 hours.
- Hours worked peaked in the 1960s at over 38 hours per week on average.
- Declining work hours can signal economic weakness or labor market slack.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average number of hours worked per week by all employees in the U.S. nonfarm business sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor productivity and utilization, which are key drivers of economic growth and performance.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor the Annual trend to assess labor market conditions and their implications for the broader economy.
Q: Are there update delays or limitations?
A: The Annual data is published monthly with a relatively short lag, providing timely insights into labor market dynamics.
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Citation
U.S. Federal Reserve, Annual (SMU28000003000000007A), retrieved from FRED.