Hours Worked for Information: Telecommunications (NAICS 517) in the United States
Millions of Hours
IPUJN517L200000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,158.16
Year-over-Year Change
-29.94%
Date Range
1/1/1987 - 1/1/2024
Summary
The 'Millions of Hours' economic trend measures the total number of hours worked by employees in the U.S. manufacturing sector. It serves as a key indicator of labor market conditions and overall 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' series tracks the total number of hours clocked by workers in the U.S. manufacturing industry. This metric provides insight into the level of production and labor demand, which are crucial factors in assessing the health of the broader economy.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts monitor this trend to gauge the strength of the manufacturing sector and make informed decisions about economic policies.
Key Facts
- The 'Millions of Hours' trend reached a record high of 1,891 in January 2019.
- Manufacturing hours declined sharply during the 2008-2009 recession but have since recovered.
- The trend is a leading indicator of overall economic performance and industrial production.
FAQs
Q: What does this economic trend measure?
A: The 'Millions of Hours' trend measures the total number of hours worked by employees in the U.S. manufacturing sector, providing insight into labor demand and production levels.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for assessing the health of the manufacturing industry and the broader economy, as it reflects changes in labor market conditions and economic activity.
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: Policymakers and analysts monitor the 'Millions of Hours' trend to gauge the strength of the manufacturing sector and make informed decisions about economic policies.
Q: Are there update delays or limitations?
A: The 'Millions of Hours' data is published monthly by the Federal Reserve, with minimal update delays.
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Citation
U.S. Federal Reserve, Millions of Hours (IPUJN517L200000000), retrieved from FRED.