Average Weekly Hours of Production Employees: Manufacturing: Durable Goods in Pennsylvania
SMU42000003100000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40.80
Year-over-Year Change
1.24%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic trend tracks the average weekly hours worked by production employees in the durable goods manufacturing sector in Pennsylvania. It provides insight into the productivity and labor utilization within this key industrial segment.
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 offers a snapshot of the employment intensity and operational status of Pennsylvania's durable goods manufacturers. Economists and policymakers use this data to assess the health and outlook of the state's manufacturing base.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This trend serves as an important leading indicator for the Pennsylvania economy and its industrial performance.
Key Facts
- Pennsylvania is a major manufacturing hub, producing a diverse range of durable goods.
- Durable goods manufacturing accounts for over 20% of the state's total economic output.
- Tracking production employee hours provides insight into industry utilization and sentiment.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the average weekly hours worked by production employees in the durable goods manufacturing sector in Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: The average weekly hours metric offers insights into the productivity and labor utilization within Pennsylvania's key manufacturing base, serving as an important indicator of the state's economic health and outlook.
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 serves as a leading indicator for the Pennsylvania economy, with policymakers and analysts using it to assess the performance and outlook of the state's industrial sector.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, with a typical 1-2 month delay before release.
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Citation
U.S. Federal Reserve, Average Weekly Hours of Production Employees: Manufacturing: Durable Goods in Pennsylvania (SMU42000003100000007A), retrieved from FRED.