Production or Nonsupervisory Employees: Manufacturing: Durable Goods in Utah
SMU49000003100000006A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
69.00
Year-over-Year Change
33.46%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic trend measures the number of production or nonsupervisory employees in the manufacturing sector for durable goods industries in the state of Utah. It provides insight into the labor dynamics and productivity of this important economic 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
The Production or Nonsupervisory Employees: Manufacturing: Durable Goods in Utah series tracks the number of workers engaged in the production of durable goods, which include items like machinery, electronics, and transportation equipment. This data is a key indicator of manufacturing activity and economic conditions in the state.
Methodology
The data is collected through surveys of manufacturing establishments in Utah by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is closely watched by policymakers, economists, and businesses to gauge the health and outlook of Utah's manufacturing industries.
Key Facts
- Utah's manufacturing sector accounts for over 7% of the state's GDP.
- Durable goods production makes up about 60% of Utah's total manufacturing employment.
- Manufacturing employment in Utah has grown by 25% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the number of production and nonsupervisory employees working in the manufacturing of durable goods industries within the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: The production employee data provides valuable insights into the health and dynamics of Utah's manufacturing sector, which is a crucial component of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of manufacturing establishments in Utah conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and businesses monitor this metric to assess the strength of Utah's manufacturing industries and make informed decisions about economic and workforce development.
Q: Are there update delays or limitations?
A: The data is published with a one-month lag by the Federal Reserve, and may be subject to periodic revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Production or Nonsupervisory Employees: Manufacturing: Durable Goods in Utah (SMU49000003100000006A), retrieved from FRED.