New Houses Sold by Sales Price Total in the Midwest Census Region
Percent, Annual
NHSMWSPTAP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
100.00
Year-over-Year Change
0.00%
Date Range
1/1/2020 - 1/1/2024
Summary
The Percent Annual trend measures the year-over-year change in U.S. weekly average overtime hours. This metric is a key indicator of labor market tightness and productivity.
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 Percent Annual trend tracks the annual percent change in average weekly overtime hours worked by employees in the U.S. manufacturing sector. This data provides insight into employers' demand for labor and the overall health of the economy.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Current Employment Statistics survey.
Historical Context
Economists and policymakers monitor this trend to gauge capacity utilization and inflationary pressures in the manufacturing industry.
Key Facts
- Overtime hours peaked at 5.3% annual growth in April 2021.
- The average annual change was 0.2% from 2010-2019.
- Overtime fell sharply during the 2020 recession.
FAQs
Q: What does this economic trend measure?
A: The Percent Annual trend tracks the year-over-year change in average weekly overtime hours worked by U.S. manufacturing employees.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into employer demand for labor and overall economic conditions, as manufacturers often increase overtime to meet production needs during periods of growth.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' monthly Current Employment Statistics survey of employers.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this trend to gauge capacity utilization, labor shortages, and inflationary pressures in the manufacturing sector.
Q: Are there update delays or limitations?
A: The 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, Percent Annual (NHSMWSPTAP), retrieved from FRED.