Hours Worked for Information: Other Telecommunications (NAICS 51791) in the United States
Millions of Hours
IPUJN51791L200000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
151.36
Year-over-Year Change
-26.79%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures the total number of hours worked by employees in the U.S. manufacturing sector. It provides crucial insights into labor productivity and industrial output.
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 tracks the total volume of labor input in the U.S. manufacturing industry. This data helps economists and policymakers assess trends in industrial capacity, labor market conditions, and overall economic performance.
Methodology
The data is collected through surveys of manufacturing establishments and compiled by the U.S. Federal Reserve.
Historical Context
This metric is widely used to inform monetary and fiscal policies targeting economic growth and employment.
Key Facts
- Manufacturing hours peaked in 2018 at 41.3 million.
- Hours worked declined sharply during the COVID-19 pandemic.
- The metric provides a timely signal of changes in industrial activity.
FAQs
Q: What does this economic trend measure?
A: The 'Millions of Hours' metric tracks the total number of hours worked by employees in the U.S. manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This data provides crucial insights into labor productivity, industrial output, and overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturing establishments and compiled by the U.S. Federal Reserve.
Q: How is this trend used in economic policy?
A: This metric is widely used to inform monetary and fiscal policies targeting economic growth and employment.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Millions of Hours (IPUJN51791L200000000), retrieved from FRED.