Average Weekly Hours of Production Employees: Manufacturing in Rhode Island
SMU44000003000000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40.70
Year-over-Year Change
1.75%
Date Range
1/1/2001 - 1/1/2024
Summary
The Average Weekly Hours of Production Employees in Manufacturing measures the average number of hours worked per week by production workers in Rhode Island's manufacturing sector. This trend provides insights into labor utilization and productivity in the state's industrial 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
This metric tracks the average number of hours worked per week by manufacturing production employees in Rhode Island. It serves as an important indicator of labor market conditions and operational efficiency within the state's manufacturing industry.
Methodology
The data is collected through a monthly survey of employers conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists monitor this trend to assess the health and competitiveness of Rhode Island's manufacturing sector.
Key Facts
- Rhode Island's manufacturing sector accounts for over 10% of the state's GDP.
- The average workweek for production employees in Rhode Island manufacturing is around 40 hours.
- This metric has shown gradual declines over the past decade, reflecting broader automation and efficiency trends.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average number of hours worked per week by production employees in Rhode Island's manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: It provides insights into labor utilization and productivity within the state's industrial economy, which is important for policymakers and economists monitoring the manufacturing industry.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of employers conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this metric to assess the health and competitiveness of Rhode Island's manufacturing sector.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of 1-2 months.
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Citation
U.S. Federal Reserve, Average Weekly Hours of Production Employees: Manufacturing in Rhode Island (SMU44000003000000007A), retrieved from FRED.