Average Weekly Hours of All Employees: Goods Producing in Pennsylvania
SMU42000000600000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
39.20
Year-over-Year Change
0.77%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Weekly Hours of All Employees: Goods Producing in Pennsylvania' measures the average number of hours worked per week by employees in the goods-producing sector in Pennsylvania. This metric provides insights into the state's industrial production and labor market trends.
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 economic indicator tracks the average weekly hours worked by employees in goods-producing industries, such as manufacturing, construction, and mining, within the state of Pennsylvania. It is a useful measure of productivity and labor market conditions in the state's industrial sector.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists use this trend to assess the health of Pennsylvania's industrial economy and make informed decisions about economic and labor market policies.
Key Facts
- The data is released monthly by the U.S. Bureau of Labor Statistics.
- Pennsylvania's goods-producing sector accounts for a significant portion of the state's economic output.
- This trend can signal changes in demand, productivity, and labor supply in Pennsylvania's industrial base.
FAQs
Q: What does this economic trend measure?
A: The 'Average Weekly Hours of All Employees: Goods Producing in Pennsylvania' measures the average number of hours worked per week by employees in the goods-producing sector within the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the productivity and labor market conditions in Pennsylvania's industrial sector, which is a crucial component of the state's economy. It can help policymakers and economists assess the health and performance of the state's goods-producing industries.
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: Policymakers and economists use this trend to evaluate the state of Pennsylvania's industrial economy and inform decisions about economic and labor market policies.
Q: Are there update delays or limitations?
A: The data is released monthly by the U.S. Bureau of Labor Statistics, with some potential for minor delays in publication.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Goods Producing in Pennsylvania (SMU42000000600000002A), retrieved from FRED.