Average Weekly Hours of All Employees: Private Service Providing in Montana
Annual
SMU30000000800000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.10
Year-over-Year Change
-0.31%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the annual average of total manufacturing hours worked per week in the United States. This metric provides insight into the overall productivity and health of the U.S. 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
The Annual trend tracks the average number of hours worked per week in the U.S. manufacturing industry over the course of a calendar year. This data point is a key indicator of manufacturing output, employment, and economic activity.
Methodology
The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Economists and policymakers closely monitor the Annual trend to assess the state of the U.S. industrial economy.
Key Facts
- The Annual trend reached a high of 42.0 hours in 2021.
- Manufacturing hours fell sharply during the COVID-19 pandemic in 2020.
- Long-term declines in manufacturing employment have contributed to lower Annual averages.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average number of hours worked per week in the U.S. manufacturing industry over the course of a calendar year.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the overall productivity and health of the U.S. manufacturing sector, which is a key driver of economic activity.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers closely monitor the Annual trend to assess the state of the U.S. industrial economy and inform economic policy decisions.
Q: Are there update delays or limitations?
A: The Annual data is published with a several-month lag, so it may not reflect the most recent manufacturing activity.
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Citation
U.S. Federal Reserve, Annual (SMU30000000800000002A), retrieved from FRED.