Hours Worked for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 4242) in the United States
Millions of Hours
IPUGN4242L200000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
477.47
Year-over-Year Change
14.13%
Date Range
1/1/1987 - 1/1/2024
Summary
The 'Millions of Hours' economic trend measures the total volume of hours worked in the U.S. manufacturing sector. This metric is a key indicator of labor input and production capacity.
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 employees in the U.S. manufacturing industry. This data provides insight into the overall level of economic activity and labor utilization in the manufacturing sector.
Methodology
The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Economists and policymakers use this trend to assess the health and productivity of the U.S. manufacturing industry.
Key Facts
- The series dates back to 1948.
- Manufacturing accounts for about 11% of U.S. GDP.
- Hours worked is a leading indicator of manufacturing output.
FAQs
Q: What does this economic trend measure?
A: The 'Millions of Hours' series measures the total volume of hours worked by employees in the U.S. manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the level of economic activity and labor utilization in the manufacturing industry, which is a key driver of the broader U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturing establishments conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this trend to assess the health and productivity of the U.S. manufacturing sector, which informs decisions around economic and industrial policies.
Q: Are there update delays or limitations?
A: The 'Millions of Hours' data is released monthly with a typical lag of 1-2 months.
Related Trends
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IPUGN4232U120000000
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Output per Worker for Wholesale Trade: Paper and Paper Product Merchant Wholesalers (NAICS 4241) in the United States
IPUGN4241W000000000
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IPUGN42U100000000
Unit Labor Costs for Wholesale Trade: Wholesale Electronic Markets and Agents and Brokers (NAICS 425) in the United States
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Citation
U.S. Federal Reserve, Millions of Hours (IPUGN4242L200000000), retrieved from FRED.