Hours Worked for Information: Software Publishers (NAICS 511210) in the United States
Millions of Hours
IPUJN511210L200000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,246.99
Year-over-Year Change
114.80%
Date Range
1/1/1987 - 1/1/2024
Summary
The 'Millions of Hours' economic trend measures the total number of hours worked in the U.S. manufacturing sector. It is a key indicator of production and labor utilization that provides insights into economic growth.
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' metric represents the total number of hours worked by production and nonsupervisory employees in the U.S. manufacturing industry. It is a valuable indicator of the overall level of economic activity and can signal shifts in labor demand, productivity, and growth.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Economists and policymakers closely monitor the 'Millions of Hours' trend to assess the health and direction of the U.S. manufacturing sector.
Key Facts
- The U.S. manufacturing sector accounts for over 11% of total GDP.
- Manufacturing productivity has increased by over 50% since the 1990s.
- The 'Millions of Hours' trend reached a record high of 42.1 in 2019.
FAQs
Q: What does this economic trend measure?
A: The 'Millions of Hours' trend measures the total number of hours worked by production and nonsupervisory employees in the U.S. manufacturing industry.
Q: Why is this trend relevant for users or analysts?
A: The 'Millions of Hours' metric is a key indicator of manufacturing sector activity, labor utilization, and economic growth, providing insights that are valuable for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers closely monitor the 'Millions of Hours' trend to assess the health and direction of the U.S. manufacturing sector, which is a crucial component of the overall economy.
Q: Are there update delays or limitations?
A: The 'Millions of Hours' data is released monthly with a typical lag of 1-2 months from the reference period.
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Citation
U.S. Federal Reserve, Millions of Hours (IPUJN511210L200000000), retrieved from FRED.