Hours Worked for Wholesale Trade: Furniture and Home Furnishing Merchant Wholesalers (NAICS 4232) in the United States
Millions of Hours
IPUGN4232L200000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
215.02
Year-over-Year Change
10.76%
Date Range
1/1/1987 - 1/1/2024
Summary
The 'Millions of Hours' trend measures the total number of hours worked by production and nonsupervisory employees in the U.S. manufacturing industry. It is a key indicator of labor market conditions and 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 represents the total number of hours worked by production and nonsupervisory employees in the manufacturing sector. This metric is used by economists and policymakers to assess the overall health and productivity of the U.S. industrial base.
Methodology
The data is collected through surveys of U.S. manufacturing establishments by the Bureau of Labor Statistics.
Historical Context
Trends in manufacturing hours worked can inform monetary and fiscal policy decisions.
Key Facts
- Manufacturing accounts for about 12% of U.S. GDP.
- Total manufacturing hours peaked in 1979 at 21.5 billion.
- The COVID-19 pandemic caused a sharp decline in manufacturing hours in 2020.
FAQs
Q: What does this economic trend measure?
A: The 'Millions of Hours' trend measures the total number of hours worked by production and nonsupervisory employees in the U.S. manufacturing industry.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of labor market conditions and overall economic activity in the manufacturing sector.
Q: How is this data collected or calculated?
A: The data is collected through surveys of U.S. manufacturing establishments by the Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in manufacturing hours worked can inform monetary and fiscal policy decisions by policymakers.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of 1-2 months.
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Citation
U.S. Federal Reserve, Millions of Hours (IPUGN4232L200000000), retrieved from FRED.