Average Weekly Hours of Production Employees: Manufacturing in Wisconsin
SMU55000003000000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38.20
Year-over-Year Change
-6.14%
Date Range
1/1/2005 - 1/1/2024
Summary
The 'Average Weekly Hours of Production Employees: Manufacturing in Wisconsin' measures the average number of hours worked per week by manufacturing production workers in the state of Wisconsin. This key labor market indicator provides insight into the health and activity of the manufacturing 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
This series represents the average weekly hours for production employees in the manufacturing industry within the state of Wisconsin. It is a widely tracked metric used by economists and policymakers to assess labor market conditions and manufacturing activity at the state level.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in manufacturing work hours help inform economic and policy decisions at the state and national level.
Key Facts
- Manufacturing accounts for over 15% of Wisconsin's GDP.
- Wisconsin ranks 4th nationally in total manufacturing employment.
- Average weekly manufacturing hours in Wisconsin have remained above the national average.
FAQs
Q: What does this economic trend measure?
A: This series measures the average number of hours worked per week by production employees in the manufacturing sector within the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: Changes in manufacturing work hours provide important insights into the health and activity of the manufacturing industry, which is a critical component of Wisconsin's economy.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in manufacturing work hours help inform economic and policy decisions at the state and national level, as they provide a real-time indicator of manufacturing sector performance.
Q: Are there update delays or limitations?
A: There may be a lag of several weeks between the end of the reference period and the release of the data.
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Citation
U.S. Federal Reserve, Average Weekly Hours of Production Employees: Manufacturing in Wisconsin (SMU55000003000000007A), retrieved from FRED.