Hours Worked for Transportation and Warehousing: Other Pipeline Transportation (NAICS 4869) in the United States
Millions of Hours
IPUIN4869L200000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16.95
Year-over-Year Change
9.95%
Date Range
1/1/1987 - 1/1/2024
Summary
The 'Millions of Hours' trend measures total production hours in the U.S. manufacturing sector. This key economic indicator offers insight into the capacity utilization and labor productivity of the industry.
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 and nonsupervisory employees in the U.S. manufacturing sector. This metric is used by economists and policymakers to assess the underlying health and capacity of the manufacturing industry.
Methodology
The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in manufacturing hours can inform monetary and fiscal policy decisions that impact employment, output, and inflation.
Key Facts
- U.S. manufacturing output accounts for nearly 12% of GDP.
- Manufacturing employs over 12 million workers in the U.S.
- The U.S. is the world's second-largest manufacturer after China.
FAQs
Q: What does this economic trend measure?
A: The 'Millions of Hours' trend measures the total number of production hours worked in the U.S. manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the capacity utilization and labor productivity of the manufacturing industry, which is a key driver of economic growth.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in manufacturing hours can inform monetary and fiscal policy decisions that impact employment, output, and inflation.
Q: Are there update delays or limitations?
A: The data is typically released with a one-month lag by the U.S. Bureau of Labor Statistics.
Related Trends
Intermediate Inputs for Transportation and Warehousing: Line-Haul Railroads (NAICS 482111) in the United States
IPUIN482111P010000000
Hourly Compensation for Transportation and Warehousing: General Warehousing and Storage (NAICS 493110) in the United States
IPUIN493110U121000000
Hourly Compensation for Transportation and Warehousing: Specialized Freight (Except Used Goods) Trucking, Long-Distance (NAICS 484230) in the United States
IPUIN484230U121000000
Employment for Transportation and Warehousing: School and Employee Bus Transportation (NAICS 48541) in the United States
IPUIN48541W200000000
Hours Worked for Transportation and Warehousing: Other Transit and Ground Passenger Transportation (NAICS 48599) in the United States
IPUIN48599L010000000
Labor Productivity for Transportation and Warehousing: Used Household and Office Goods Moving (NAICS 484210) in the United States
IPUIN484210L000000000
Citation
U.S. Federal Reserve, Millions of Hours (IPUIN4869L200000000), retrieved from FRED.