Average Weekly Hours of Production Employees: Manufacturing: Non-Durable Goods in North Carolina
SMU37000003200000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
39.20
Year-over-Year Change
-4.62%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic trend measures the average weekly hours worked by production employees in the non-durable goods manufacturing sector in North Carolina. It is an important indicator of labor market conditions and economic activity in the state.
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 Average Weekly Hours of Production Employees: Manufacturing: Non-Durable Goods in North Carolina metric tracks the average number of hours per week worked by employees involved in the production of non-durable goods, such as food, apparel, and chemicals, in North Carolina's manufacturing industry. This data provides insights into the utilization of the state's manufacturing workforce.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by policymakers, economists, and businesses to assess the health of North Carolina's manufacturing sector and broader economic conditions.
Key Facts
- North Carolina is a major manufacturing hub, contributing over $100 billion to the state's GDP.
- The non-durable goods sector accounts for around 40% of North Carolina's total manufacturing output.
- Average weekly hours in North Carolina's non-durable goods manufacturing have remained relatively stable in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly hours worked by production employees in the non-durable goods manufacturing sector in North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the utilization of North Carolina's manufacturing workforce and the overall health of the state's non-durable goods manufacturing sector, which is an important driver of the state's economy.
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: This trend is closely monitored by policymakers, economists, and businesses to assess the health of North Carolina's manufacturing sector and broader economic conditions, which can inform policy decisions and business strategies.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, and there may be minor delays in publication due to the survey collection process.
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Citation
U.S. Federal Reserve, Average Weekly Hours of Production Employees: Manufacturing: Non-Durable Goods in North Carolina (SMU37000003200000007A), retrieved from FRED.