All Employees: Manufacturing in Alabama
Annual
SMU01000003000000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
284.30
Year-over-Year Change
16.66%
Date Range
1/1/1990 - 1/1/2024
Summary
The Annual trend measures the average weekly hours worked per employee in the private sector of the U.S. economy. It provides important insights into labor productivity and workforce utilization.
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 that private sector employees work per week over the course of a year. This metric is a key indicator of labor market health and can inform economic policy decisions.
Methodology
The data is collected through surveys of private employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this trend to assess the strength of the labor market and predict future economic activity.
Key Facts
- The annual average weekly hours worked has fluctuated between 34 and 35 hours since the 1990s.
- Increased average weekly hours can signal a tight labor market and rising productivity.
- Decreased hours may indicate an economic slowdown or rising unemployment.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average number of hours worked per week by private sector employees over the course of a year.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor productivity, workforce utilization, and the overall health of the labor market, which are important for economic policymaking and forecasting.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the strength of the labor market and predict future economic activity, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The Annual trend data is published monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Annual (SMU01000003000000001A), retrieved from FRED.