Monthly, Seasonally Adjusted
SMU37000005051100001SA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
30.50
Year-over-Year Change
3.04%
Date Range
1/1/1990 - 12/1/2022
Summary
The 'Monthly, Seasonally Adjusted' trend measures the average weekly hours worked in the manufacturing sector of the United States. This key economic indicator provides insights into productivity, 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
This series represents the average number of hours worked per week by production and nonsupervisory employees in the manufacturing industry, adjusted for seasonal variation. It is a widely tracked metric that helps economists and policymakers assess the health and trends of the U.S. manufacturing sector.
Methodology
The data is collected through surveys of establishments and calculated as a weighted average of hours worked across manufacturing industries.
Historical Context
Analysts and policymakers monitor this trend to better understand the state of the manufacturing economy and its implications for employment, consumer demand, and overall economic performance.
Key Facts
- Manufacturing accounts for approximately 11% of U.S. GDP.
- Average weekly hours in manufacturing have ranged from 38.8 to 42.1 since 2000.
- This trend is considered a leading indicator of economic activity.
FAQs
Q: What does this economic trend measure?
A: The 'Monthly, Seasonally Adjusted' trend measures the average number of hours worked per week by production and nonsupervisory employees in the U.S. manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the productivity, labor market conditions, and overall economic activity within the manufacturing industry, which is a crucial sector of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of establishments and calculated as a weighted average of hours worked across manufacturing industries.
Q: How is this trend used in economic policy?
A: Analysts and policymakers monitor this trend to better understand the state of the manufacturing economy and its implications for employment, consumer demand, and overall economic performance.
Q: Are there update delays or limitations?
A: The data is released monthly by the U.S. Federal Reserve with minimal delays, providing timely insights into the manufacturing sector.
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Citation
U.S. Federal Reserve, Monthly, Seasonally Adjusted (SMU37000005051100001SA), retrieved from FRED.