Average Weekly Hours of Production Employees: Manufacturing: Durable Goods in Oregon
SMU41000003100000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40.70
Year-over-Year Change
0.25%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic trend measures the average weekly hours worked by production employees in the durable goods manufacturing industry in Oregon. It provides insights into labor utilization and productivity in this key sector of the state's economy.
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 metric tracks the typical number of hours worked per week by production workers in Oregon's durable goods manufacturing facilities. It is an important labor market indicator used by economists and policymakers to assess economic conditions and guide decision-making.
Methodology
The data is collected through a monthly survey of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in average weekly hours can inform state-level economic and workforce policies.
Key Facts
- Oregon's durable goods manufacturing accounts for over 100,000 jobs.
- Average weekly hours peaked at 42.9 in December 2021.
- Trend has shown steady recovery since pandemic lows in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by production employees in Oregon's durable goods manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor utilization and productivity within a key industry, which can inform economic and workforce policies.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey 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 hours can help state-level policymakers and economists assess economic conditions and guide decision-making.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Average Weekly Hours of Production Employees: Manufacturing: Durable Goods in Oregon (SMU41000003100000007A), retrieved from FRED.