Hours Worked for Wholesale Trade: Miscellaneous Durable Goods Merchant Wholesalers (NAICS 4239) in the United States
Millions of Hours
IPUGN4239L200000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
651.68
Year-over-Year Change
-2.58%
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 across the U.S. manufacturing sector. This metric is a key indicator of economic activity and labor market conditions.
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 paid hours for production and nonsupervisory workers in manufacturing industries. It serves as a proxy for overall labor input and production capacity in the manufacturing segment of the economy.
Methodology
The data is collected through monthly surveys of U.S. businesses by the Bureau of Labor Statistics.
Historical Context
This metric is closely watched by policymakers, analysts, and investors to gauge the health and momentum of the manufacturing industry.
Key Facts
- Manufacturing accounts for about 11% of U.S. GDP.
- Total manufacturing hours peaked in 1998 at 419 million.
- Hours worked declined sharply during the 2008-2009 recession.
FAQs
Q: What does this economic trend measure?
A: The 'Millions of Hours' trend tracks the total paid hours for production and nonsupervisory employees across the U.S. manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This metric serves as a key indicator of activity and labor input in the manufacturing industry, providing insight into economic conditions and production capacity.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of U.S. businesses conducted by the Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers, analysts, and investors closely monitor this metric to gauge the health and momentum of the manufacturing sector, which is a critical component of the broader economy.
Q: Are there update delays or limitations?
A: The 'Millions of Hours' data is published monthly with a typical lag of 1-2 months.
Related Trends
Labor Compensation for Wholesale Trade: Petroleum and Petroleum Products Merchant Wholesalers (NAICS 4247) in the United States
IPUGN4247L021000000
Labor Productivity for Wholesale Trade: Machinery, Equipment, and Supplies Merchant Wholesalers (NAICS 4238) in the United States
IPUGN4238L000000000
Labor Productivity for Wholesale Trade: Petroleum and Petroleum Products Merchant Wholesalers (NAICS 4247) in the United States
IPUGN4247L001000000
Real Sectoral Output for Wholesale Trade: Chemical and Allied Products Merchant Wholesalers (NAICS 4246) in the United States
IPUGN4246T010000000
Sectoral Output for Wholesale Trade: Petroleum and Petroleum Products Merchant Wholesalers (NAICS 4247) in the United States
IPUGN4247T300000000
Sectoral Output for Wholesale Trade: Machinery, Equipment, and Supplies Merchant Wholesalers (NAICS 4238) in the United States
IPUGN4238T301000000
Citation
U.S. Federal Reserve, Millions of Hours (IPUGN4239L200000000), retrieved from FRED.