All Employees: Goods Producing in Utah
Annual
SMU49000000600000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
303.10
Year-over-Year Change
52.39%
Date Range
1/1/1990 - 1/1/2024
Summary
The Annual Trend measures the total annual hours worked across all industries in the United States. It is a key indicator of overall economic activity and labor market conditions.
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 Annual Trend tracks the total number of hours worked by all employees over the course of a calendar year. It provides a comprehensive view of the scale and intensity of economic production and can signal shifts in workforce utilization and productivity.
Methodology
The data is compiled by the U.S. Bureau of Labor Statistics based on surveys of employers across the country.
Historical Context
Economists and policymakers monitor the Annual Trend to gauge the health of the broader economy and labor market.
Key Facts
- The Annual Trend reached a record high of 300.2 billion hours in 2019.
- Annual hours worked declined sharply in 2020 due to the COVID-19 pandemic.
- The Annual Trend is considered a leading indicator of broader economic conditions.
FAQs
Q: What does this economic trend measure?
A: The Annual Trend measures the total number of hours worked by all employees across the United States over the course of a calendar year.
Q: Why is this trend relevant for users or analysts?
A: The Annual Trend provides a comprehensive view of the scale and intensity of economic production, and can signal shifts in workforce utilization and productivity.
Q: How is this data collected or calculated?
A: The data is compiled by the U.S. Bureau of Labor Statistics based on surveys of employers across the country.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor the Annual Trend to gauge the health of the broader economy and labor market.
Q: Are there update delays or limitations?
A: The Annual Trend data is released with a short delay following the end of each calendar year.
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Citation
U.S. Federal Reserve, Annual (SMU49000000600000001A), retrieved from FRED.