Hours Worked for Transportation and Warehousing: Other Transit and Ground Passenger Transportation (NAICS 4859) in the United States
Millions of Hours
IPUIN4859L200000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
206.92
Year-over-Year Change
22.64%
Date Range
1/1/1987 - 1/1/2024
Summary
The 'Millions of Hours' economic trend measures the total volume of industrial production in the United States. This data provides insight into the overall health and output of the U.S. manufacturing sector.
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' indicator tracks the total number of hours worked in industrial production, offering a comprehensive view of manufacturing activity. This metric is closely watched by economists and policymakers to assess the broader state of the U.S. economy.
Methodology
The data is collected through surveys of industrial facilities and production plants across the country.
Historical Context
Trends in industrial production hours are used to inform monetary and fiscal policy decisions.
Key Facts
- The U.S. industrial sector accounts for over 19% of GDP.
- Manufacturing contributed $2.4 trillion to the U.S. economy in 2021.
- Industrial production grew by 3.9% in 2022 compared to the previous year.
FAQs
Q: What does this economic trend measure?
A: The 'Millions of Hours' indicator tracks the total volume of industrial production in the United States, providing insight into the overall health and output of the manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: Trends in industrial production hours are closely watched by economists and policymakers as they offer valuable insights into the broader state of the U.S. economy and can inform important policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of industrial facilities and production plants across the country.
Q: How is this trend used in economic policy?
A: Trends in industrial production hours are used to inform monetary and fiscal policy decisions, as they provide a comprehensive view of manufacturing activity and the overall health of the U.S. economy.
Q: Are there update delays or limitations?
A: The 'Millions of Hours' data is published monthly by the U.S. Federal Reserve, with a typical release lag of several weeks.
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Citation
U.S. Federal Reserve, Millions of Hours (IPUIN4859L200000000), retrieved from FRED.