Hours Worked for Transportation and Warehousing: Used Household and Office Goods Moving (NAICS 48421) in the United States
Millions of Hours
IPUIN48421L200000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
178.43
Year-over-Year Change
3.38%
Date Range
1/1/1987 - 1/1/2024
Summary
The 'Millions of Hours' economic trend measures total manufacturing production worker hours in the United States. This data provides insight into labor productivity and is a key indicator of industrial activity.
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 number of hours worked by production workers across the U.S. manufacturing sector. This metric helps economists and policymakers assess the health and efficiency of the nation's industrial base.
Methodology
The data is collected through monthly surveys of manufacturing establishments by the U.S. Census Bureau.
Historical Context
Trends in manufacturing hours worked are closely monitored by the Federal Reserve and other government agencies for insights into monetary and fiscal policy decisions.
Key Facts
- Manufacturing production hours peaked at 419 million in 1943 during World War II.
- Hours worked declined sharply during the 2008-2009 recession but have since recovered to pre-pandemic levels.
- The Millions of Hours series dates back to 1939.
FAQs
Q: What does this economic trend measure?
A: The 'Millions of Hours' series tracks the total number of hours worked by production workers across the U.S. manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: Trends in manufacturing hours worked provide key insights into labor productivity and the overall health of the industrial economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of manufacturing establishments by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Millions of Hours is closely monitored by the Federal Reserve and other government agencies for insights into monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The Millions of Hours series is published monthly with a short lag, providing timely data on manufacturing labor inputs.
Related Trends
Hourly Compensation for Transportation and Warehousing: General Freight Trucking, Local (NAICS 48411) in the United States
IPUIN48411U121000000
Capital Intensity for Transportation and Warehousing: Air Transportation (NAICS 481) in the United States
IPUIN481C060000000
Employment for Transportation and Warehousing: Support Activities for Rail Transportation (NAICS 488210) in the United States
IPUIN488210W201000000
Unit Labor Costs for Transportation and Warehousing: General Freight Trucking, Local (NAICS 48411) in the United States
IPUIN48411U101000000
Output per Worker for Transportation and Warehousing: General Freight Trucking (NAICS 4841) in the United States
IPUIN4841W000000000
Combined Inputs for Transportation and Warehousing: Line-Haul Railroads (NAICS 482111) in the United States
IPUIN482111M011000000
Citation
U.S. Federal Reserve, Millions of Hours (IPUIN48421L200000000), retrieved from FRED.