Hours Worked for Wholesale Trade: Metal and Mineral (Except Petroleum) Merchant Wholesalers (NAICS 4235) in the United States
Millions of Hours
IPUGN4235L200000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
272.78
Year-over-Year Change
-1.38%
Date Range
1/1/1987 - 1/1/2024
Summary
The 'Millions of Hours' economic trend measures the total number of hours worked across the U.S. manufacturing sector. This key indicator provides insight into overall industrial production and workforce utilization.
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' metric tracks the total labor input for the U.S. manufacturing industry. It is used by economists and policymakers to analyze trends in industrial output, labor productivity, and capacity utilization.
Methodology
The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is closely watched by the Federal Reserve and other institutions for insights into the health of the U.S. economy.
Key Facts
- Manufacturing hours peaked in 2000 at over 420 million per month.
- Millions of Hours declined sharply during the 2008-2009 recession.
- The metric has slowly recovered to pre-recession levels in recent years.
FAQs
Q: What does this economic trend measure?
A: The 'Millions of Hours' metric tracks the total number of hours worked across the U.S. manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This key indicator provides insight into overall industrial production and workforce utilization, making it important for economists and policymakers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The 'Millions of Hours' metric is closely watched by the Federal Reserve and other institutions for insights into the health of the U.S. economy.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag.
Related Trends
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IPUGN424T050000000
Employment for Wholesale Trade: Electrical and Electronic Goods Merchant Wholesalers (NAICS 4236) in the United States
IPUGN4236W010000000
Labor Productivity for Wholesale Trade: Electrical and Electronic Goods Merchant Wholesalers (NAICS 4236) in the United States
IPUGN4236L001000000
Labor Productivity for Wholesale Trade: Merchant Wholesalers, Nondurable Goods (NAICS 424) in the United States
IPUGN424L000000000
Sectoral Output Price Deflator for Wholesale Trade: Grocery and Related Product Wholesalers (NAICS 4244) in the United States
IPUGN4244T050000000
Labor Compensation for Wholesale Trade: Lumber and Other Construction Materials Merchant Wholesalers (NAICS 4233) in the United States
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Citation
U.S. Federal Reserve, Millions of Hours (IPUGN4235L200000000), retrieved from FRED.