Hours Worked for Information: Other Telecommunications (NAICS 5179) in the United States
Millions of Hours
IPUJN5179L200000000 • 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
The 'Millions of Hours' economic trend measures the total number of labor hours worked across all manufacturing industries in the United States. This key indicator provides insight into the overall level of production and economic activity.
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 employees in the U.S. manufacturing sector. This data point is widely used by economists and policymakers to gauge the health and productivity of the broader economy.
Methodology
The data is collected through surveys of manufacturing establishments and compiled by the U.S. Federal Reserve.
Historical Context
Trends in manufacturing hours worked are closely monitored for their implications on employment, consumer demand, and overall economic growth.
Key Facts
- Manufacturing accounts for approximately 12% of U.S. GDP.
- The U.S. manufacturing sector employs over 12 million workers.
- Manufacturing productivity has increased by over 50% since the 1980s.
FAQs
Q: What does this economic trend measure?
A: The 'Millions of Hours' metric tracks the total number of labor hours worked across all manufacturing industries in the United States.
Q: Why is this trend relevant for users or analysts?
A: Trends in manufacturing hours worked provide important insights into the health and productivity of the broader U.S. economy.
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: Policymakers and economists closely monitor manufacturing hours worked to gauge employment, consumer demand, and overall economic growth.
Q: Are there update delays or limitations?
A: The 'Millions of Hours' data is released monthly with a typical 1-2 month delay.
Related Trends
Labor Compensation for Information: Book Publishers (NAICS 511130) in the United States
IPUJN511130U110000000
Hourly Compensation for Information: Periodical Publishers (NAICS 51112) in the United States
IPUJN51112U120000000
Sectoral Output Price Deflator for Information: Book Publishers (NAICS 51113) in the United States
IPUJN51113T051000000
Sectoral Output Price Deflator for Information: Wired and Wireless Telecommunications Carriers (NAICS 51731) in the United States
IPUJN51731T050000000
Sectoral Output for Information: Motion Picture and Video Exhibition (NAICS 51213) in the United States
IPUJN51213T301000000
Hours Worked for Information: Motion Picture and Video Industries (NAICS 5121) in the United States
IPUJN5121L010000000
Citation
U.S. Federal Reserve, Millions of Hours (IPUJN5179L200000000), retrieved from FRED.