Hours Worked for Wholesale Trade: Motor Vehicle and Motor Vehicle Parts and Supplies Merchant Wholesalers (NAICS 4231) in the United States
Millions of Hours
IPUGN4231L200000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
734.61
Year-over-Year Change
16.61%
Date Range
1/1/1987 - 1/1/2024
Summary
The 'Millions of Hours' trend measures the total number of hours worked across all nonfarm industries in the United States. This metric provides insight into the overall utilization of the nation's labor force and is a key indicator of economic activity.
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 'Millions of Hours' series tracks the total number of hours worked per month by employees in the U.S. nonfarm business sector. It serves as a broad measure of labor input and is used by economists and policymakers to assess the health and productivity of the economy.
Methodology
The data is collected through surveys of U.S. businesses and compiled by the Bureau of Labor Statistics.
Historical Context
Trends in total hours worked are closely monitored by the Federal Reserve and other institutions to inform economic and monetary policy decisions.
Key Facts
- The U.S. nonfarm sector accounts for over 80% of total employment.
- Hours worked data is released monthly by the Bureau of Labor Statistics.
- Total hours worked is a leading indicator of economic growth and productivity.
FAQs
Q: What does this economic trend measure?
A: The 'Millions of Hours' trend measures the total number of hours worked per month by employees in the U.S. nonfarm business sector.
Q: Why is this trend relevant for users or analysts?
A: Trends in total hours worked provide insight into the overall utilization of the nation's labor force and are a key indicator of economic activity and productivity.
Q: How is this data collected or calculated?
A: The data is collected through surveys of U.S. businesses and compiled by the Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in total hours worked are closely monitored by the Federal Reserve and other institutions to inform economic and monetary policy decisions.
Q: Are there update delays or limitations?
A: The 'Millions of Hours' data is released monthly by the Bureau of Labor Statistics with minimal delays.
Related Trends
Employment for Wholesale Trade: Beer, Wine, and Distilled Alcoholic Beverage Merchant Wholesalers (NAICS 4248) in the United States
IPUGN4248W010000000
Sectoral Output Price Deflator for Wholesale Trade: Grocery and Related Product Wholesalers (NAICS 4244) in the United States
IPUGN4244T051000000
Labor Compensation for Wholesale Trade: Miscellaneous Nondurable Goods Merchant Wholesalers (NAICS 4249) in the United States
IPUGN4249L021000000
Labor Productivity for Wholesale Trade: Wholesale Electronic Markets and Agents and Brokers (NAICS 4251) in the United States
IPUGN4251L000000000
Sectoral Output for Wholesale Trade: Motor Vehicle and Motor Vehicle Parts and Supplies Merchant Wholesalers (NAICS 4231) in the United States
IPUGN4231T301000000
Hourly Compensation for Wholesale Trade: Hardware, and Plumbing and Heating Equipment and Supplies Merchant Wholesalers (NAICS 4237) in the United States
IPUGN4237U121000000
Citation
U.S. Federal Reserve, Millions of Hours (IPUGN4231L200000000), retrieved from FRED.