Hours Worked for Wholesale Trade: Electrical and Electronic Goods Merchant Wholesalers (NAICS 4236) in the United States
Millions of Hours
IPUGN4236L200000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
747.03
Year-over-Year Change
8.31%
Date Range
1/1/1987 - 1/1/2024
Summary
The 'Millions of Hours' economic trend measures the total number of hours worked by employees in the U.S. manufacturing sector. It is a key indicator of labor utilization and production capacity in 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
This data series represents the total number of hours worked by manufacturing employees, including both production and non-production workers. It provides insight into the level of activity and effort being dedicated to manufacturing output in the United States.
Methodology
The data is collected through monthly surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use the 'Millions of Hours' trend to assess the health and utilization of the U.S. manufacturing sector.
Key Facts
- Manufacturing accounts for over 11% of U.S. GDP.
- Total manufacturing hours peaked in 2018 at over 41 billion.
- Hours worked declined sharply during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: The 'Millions of Hours' trend measures the total number of hours worked by employees in the U.S. manufacturing sector, providing insight into labor utilization and production capacity.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the health and activity levels of the U.S. manufacturing industry, which is a critical component of the broader economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use the 'Millions of Hours' trend to assess the utilization of manufacturing capacity and inform decisions related to economic stimulus, trade, and industrial policy.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of 1-2 months. There may be revisions to historical data as more complete information becomes available.
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Citation
U.S. Federal Reserve, Millions of Hours (IPUGN4236L200000000), retrieved from FRED.