Average Weekly Hours of Production Employees: Manufacturing: Non-Durable Goods in West Virginia
SMU54000003200000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
41.50
Year-over-Year Change
10.08%
Date Range
1/1/2003 - 1/1/2024
Summary
This economic indicator measures the average weekly hours worked by production employees in the manufacturing of non-durable goods in West Virginia. It provides insights into labor utilization and productivity in this important industrial 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 Average Weekly Hours of Production Employees: Manufacturing: Non-Durable Goods in West Virginia metric tracks the average number of hours worked per week by production workers in the manufacturing of non-durable products like food, apparel, and chemicals in the state. This data point is a key indicator of labor market conditions and output capacity in West Virginia's manufacturing industry.
Methodology
The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is used by economists, policymakers, and industry analysts to monitor labor market trends and assess the health of West Virginia's manufacturing sector.
Key Facts
- West Virginia's manufacturing sector accounts for over 10% of the state's GDP.
- Non-durable goods like food and apparel make up around 40% of West Virginia's total manufacturing output.
- Production workers represent over 70% of the total manufacturing workforce in West Virginia.
FAQs
Q: What does this economic trend measure?
A: This metric measures the average number of hours worked per week by production employees in the manufacturing of non-durable goods in West Virginia.
Q: Why is this trend relevant for users or analysts?
A: This data point provides insights into labor utilization and productivity in West Virginia's critical manufacturing industry, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and industry analysts use this metric to monitor labor market trends and assess the health of West Virginia's manufacturing sector.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Average Weekly Hours of Production Employees: Manufacturing: Non-Durable Goods in West Virginia (SMU54000003200000007A), retrieved from FRED.