Hours Worked for Manufacturing: Other General Purpose Machinery Manufacturing (NAICS 3339) in the United States
IPUEN3339L201000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-3.10
Year-over-Year Change
-163.27%
Date Range
1/1/1988 - 1/1/2024
Summary
This economic indicator tracks the number of hours worked in the Other General Purpose Machinery Manufacturing industry within the broader U.S. manufacturing sector. It provides insights into production levels and labor demand in this important part of the economy.
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 Manufacturing: Other General Purpose Machinery Manufacturing (NAICS 3339) metric measures the total number of labor hours put in by production and non-supervisory workers in this manufacturing subsector. It is a key signal of activity and capacity utilization within this capital goods industry.
Methodology
The data is collected through monthly surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This industry-level employment metric is closely watched by economists, policymakers, and market analysts to gauge the health of the manufacturing economy.
Key Facts
- Other General Purpose Machinery Manufacturing includes the production of equipment like elevators, escalators, and industrial trucks.
- This subsector represents around 3% of total U.S. manufacturing employment.
- Hours worked is a leading indicator of production and broader economic activity.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the total number of labor hours worked by production and non-supervisory employees in the Other General Purpose Machinery Manufacturing industry, providing insights into activity levels in this key manufacturing subsector.
Q: Why is this trend relevant for users or analysts?
A: Hours worked data for this industry is an important signal of production capacity, labor demand, and the broader health of the U.S. manufacturing economy, making it closely watched by economists, policymakers, and market participants.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of manufacturing establishments conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this industry-level employment metric to gauge the state of the manufacturing sector and broader economic conditions, informing monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published with a one-month lag by the Federal Reserve, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Hours Worked for Manufacturing: Other General Purpose Machinery Manufacturing (NAICS 3339) in the United States (IPUEN3339L201000000), retrieved from FRED.