Hours Worked for Utilities: Utilities (NAICS 221) in the United States
IPUCN221L010000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
105.25
Year-over-Year Change
7.31%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures the total number of hours worked in the utilities industry (NAICS 221) in the United States. It provides key insights into labor utilization and productivity in this essential 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 Hours Worked for Utilities metric represents the total number of hours paid for by employers to workers in the utilities industry, which includes electric power, natural gas, water, and sewage treatment. This data point is a valuable indicator of industry activity and labor market conditions.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Economists and policymakers use this metric to assess the health and performance of the utilities sector and its influence on the broader economy.
Key Facts
- The utilities industry accounts for approximately 1% of total U.S. employment.
- Utilities are a capital-intensive sector, making labor productivity a key metric.
- Trends in hours worked can signal changes in demand for utilities services.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of hours worked by employees in the utilities industry (NAICS 221) in the United States.
Q: Why is this trend relevant for users or analysts?
A: The hours worked metric provides insights into labor utilization and productivity in the essential utilities sector, which is a key indicator of industry activity and economic conditions.
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: Economists and policymakers use this metric to assess the health and performance of the utilities sector and its influence on the broader economy.
Q: Are there update delays or limitations?
A: The data is subject to typical government statistical reporting lags, but generally provides a timely and reliable indicator of labor trends in the utilities industry.
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Citation
U.S. Federal Reserve, Hours Worked for Utilities: Utilities (NAICS 221) in the United States (IPUCN221L010000000), retrieved from FRED.