Hours Worked for Transportation and Warehousing: Truck Transportation (NAICS 484) in the United States
Millions of Hours
IPUIN484L200000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,712.23
Year-over-Year Change
7.16%
Date Range
1/1/1987 - 1/1/2024
Summary
The 'Millions of Hours' economic trend measures the total number of hours worked across the entire U.S. industrial sector. This key indicator provides insight into overall economic activity 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
The 'Millions of Hours' series tracks the aggregated number of hours worked in the United States. It is a valuable metric for economists and policymakers to assess the scale and intensity of industrial production in the broader economy.
Methodology
The data is collected through surveys of industrial facilities and manufacturers.
Historical Context
This metric is widely used to gauge the health and direction of the U.S. economy.
Key Facts
- The series dates back to 1919.
- Hours worked reached a peak of 2.24 billion in 2000.
- Millions of Hours declined sharply during the 2008-2009 recession.
FAQs
Q: What does this economic trend measure?
A: The 'Millions of Hours' series tracks the total number of hours worked across the entire U.S. industrial sector, providing insight into overall economic activity and productivity.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used by economists and policymakers to gauge the health and direction of the U.S. economy, as it reflects the scale and intensity of industrial production.
Q: How is this data collected or calculated?
A: The data is collected through surveys of industrial facilities and manufacturers.
Q: How is this trend used in economic policy?
A: The 'Millions of Hours' series is used by markets, economists, and government institutions to assess the overall state of the U.S. economy and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical delay of one to two months.
Related Trends
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Hours Worked for Transportation and Warehousing: Transit and Ground Passenger Transportation (NAICS 485) in the United States
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Sectoral Output for Transportation and Warehousing: Refrigerated Warehousing and Storage (NAICS 49312) in the United States
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Unit Labor Costs for Transportation and Warehousing: General Freight Trucking, Long-Distance (NAICS 48412) in the United States
IPUIN48412U101000000
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Citation
U.S. Federal Reserve, Millions of Hours (IPUIN484L200000000), retrieved from FRED.