All Employees: Goods Producing in Pennsylvania
Annual, Not Seasonally Adjusted
SMU42000000600000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
844.10
Year-over-Year Change
1.71%
Date Range
1/1/1990 - 1/1/2024
Summary
The Annual, Not Seasonally Adjusted economic trend measures total manufacturing hours worked in the United States on an annual basis. This metric provides insight into the productivity and output 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
This series tracks the total number of hours worked by manufacturing employees in the U.S. on an annual, non-seasonally adjusted basis. It serves as an important indicator of manufacturing activity and productivity levels within the broader economy.
Methodology
The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this trend to assess the health and competitiveness of the U.S. manufacturing industry.
Key Facts
- U.S. manufacturing hours peaked in 2018 at 41.7 billion.
- Manufacturing accounts for about 11% of total U.S. economic output.
- The COVID-19 pandemic led to a sharp decline in manufacturing hours in 2020.
FAQs
Q: What does this economic trend measure?
A: The Annual, Not Seasonally Adjusted trend measures the total number of hours worked by manufacturing employees in the United States on an annual basis.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the productivity and output of the U.S. manufacturing sector, which is a key driver of economic growth and competitiveness.
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: Policymakers and analysts use this trend to assess the health and competitiveness of the U.S. manufacturing industry, which informs decisions on trade, investment, and economic development policies.
Q: Are there update delays or limitations?
A: The data is published annually with a relatively short lag, providing timely insights into manufacturing activity.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (SMU42000000600000001A), retrieved from FRED.