Hours Worked for Wholesale Trade: Wholesale Electronic Markets and Agents and Brokers (NAICS 425) in the United States
Millions of Hours
IPUGN425L200000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
939.86
Year-over-Year Change
-12.21%
Date Range
1/1/1987 - 1/1/2024
Summary
The 'Millions of Hours' trend measures the total number of hours worked in the U.S. manufacturing sector, providing insight into labor utilization and productivity.
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 series tracks the total number of hours worked by employees in the manufacturing industry. It is a key economic indicator used to analyze labor market conditions, production capacity, and overall economic performance.
Methodology
The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Historical Context
The 'Millions of Hours' trend is closely monitored by policymakers, economists, and investors to assess the health of the manufacturing sector and broader economy.
Key Facts
- The U.S. manufacturing sector employs over 12 million workers.
- Manufacturing accounts for over 11% of total U.S. economic output.
- Productivity growth in manufacturing outpaces the overall economy.
FAQs
Q: What does this economic trend measure?
A: The 'Millions of Hours' trend tracks the total number of hours worked by employees in the U.S. manufacturing sector, providing a measure of labor utilization and production capacity.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely watched by economists, policymakers, and investors as an indicator of the health and productivity of the manufacturing industry, which is a crucial driver of the broader U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of manufacturing establishments conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and central banks monitor the 'Millions of Hours' trend to assess labor market conditions, production capacity, and overall economic performance, which informs decisions on monetary and fiscal policy.
Q: Are there update delays or limitations?
A: The 'Millions of Hours' data is released monthly by the U.S. Bureau of Labor Statistics, with a typical lag of around one month between the reference period and the release date.
Related Trends
Hourly Compensation for Wholesale Trade: Grocery and Related Product Wholesalers (NAICS 4244) in the United States
IPUGN4244U121000000
Output per Worker for Wholesale Trade: Farm Product Raw Material Merchant Wholesalers (NAICS 4245) in the United States
IPUGN4245W000000000
Output per Worker for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 424210) in the United States
IPUGN424210W001000000
Hourly Compensation for Wholesale Trade: Lumber and Other Construction Materials Merchant Wholesalers (NAICS 4233) in the United States
IPUGN4233U121000000
Sectoral Output Price Deflator for Wholesale Trade: Miscellaneous Durable Goods Merchant Wholesalers (NAICS 4239) in the United States
IPUGN4239T050000000
Sectoral Output Price Deflator for Wholesale Trade: Wholesale Electronic Markets and Agents and Brokers (NAICS 4251) in the United States
IPUGN4251T051000000
Citation
U.S. Federal Reserve, Millions of Hours (IPUGN425L200000000), retrieved from FRED.