Average Weekly Hours of Production Employees: Manufacturing in Ohio
SMU39000003000000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
41.00
Year-over-Year Change
-0.97%
Date Range
1/1/2001 - 1/1/2024
Summary
The Average Weekly Hours of Production Employees: Manufacturing in Ohio is an important economic indicator that tracks the average number of hours worked per week by manufacturing production workers in the state of Ohio. This metric provides insight into the strength and productivity of the Ohio 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
This series measures the average weekly hours worked by production employees in the manufacturing industry in Ohio. It is a key statistic used by economists and policymakers to assess the health and output of the state's manufacturing base, which is a crucial component of the overall economy.
Methodology
The data is collected through monthly surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in average weekly manufacturing hours can inform decisions around economic and employment policies.
Key Facts
- Ohio is a major manufacturing hub, accounting for over 16% of the state's GDP.
- Manufacturing employs over 700,000 people in Ohio, or about 12% of the state's workforce.
- Average weekly manufacturing hours in Ohio have remained relatively stable over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by production employees in the manufacturing industry in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insight into the productivity and output of Ohio's crucial manufacturing sector, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in average weekly manufacturing hours can inform decisions around economic and employment policies, as they reflect the health and output of a vital industry.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical release lag of around one month.
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Citation
U.S. Federal Reserve, Average Weekly Hours of Production Employees: Manufacturing in Ohio (SMU39000003000000007A), retrieved from FRED.