All Employees: Manufacturing: Durable Goods in Virginia
Annual
SMU51000003100000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
145.60
Year-over-Year Change
6.82%
Date Range
1/1/1990 - 1/1/2024
Summary
The Annual trend measures the average number of hours worked per week by all employees in the U.S. manufacturing sector. This metric is a key indicator of labor market conditions and productivity.
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 represents the average number of hours worked per week by manufacturing workers, including both production and non-production employees. This statistic is widely used by economists and policymakers to assess the overall health and output of the U.S. manufacturing industry.
Methodology
The data is collected through monthly surveys of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual trend provides important context for interpreting other economic indicators like industrial production and employment.
Key Facts
- The U.S. manufacturing sector employs over 12 million workers.
- Average weekly hours have ranged from 40-42 over the past decade.
- Manufacturing productivity has increased by over 20% since 2010.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average number of hours worked per week by employees in the U.S. manufacturing sector.
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 industry, which is a key driver of economic growth.
Q: How is this data collected or calculated?
A: The data is collected through monthly 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 the Annual trend to gauge the health of the manufacturing sector and inform decisions related to economic and industrial policy.
Q: Are there update delays or limitations?
A: The Annual data is published monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Annual (SMU51000003100000001A), retrieved from FRED.