Average Weekly Hours of All Employees: Manufacturing in Alabama
SMU01000003000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40.80
Year-over-Year Change
-3.55%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Weekly Hours of All Employees: Manufacturing in Alabama' measures the average number of hours worked per week by manufacturing employees in the state of Alabama. This metric provides insights into the production capacity and labor utilization of the state's manufacturing sector.
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
This economic indicator represents the average number of hours worked per week by all employees in the manufacturing industry in Alabama. It is a key measure of productivity and can signal changes in labor demand, overtime, and the overall health of the state's manufacturing economy.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists use this metric to assess the strength and direction of Alabama's manufacturing sector and make informed decisions about economic and labor policies.
Key Facts
- Alabama's manufacturing sector employs over 270,000 workers.
- The average weekly hours in Alabama manufacturing has remained relatively stable since 2010.
- Manufacturing accounts for nearly 18% of Alabama's total GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by all employees in the manufacturing industry in the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the productivity and labor utilization of Alabama's manufacturing sector, which is a key driver of the state's economy.
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 economists use this indicator to assess the strength and direction of Alabama's manufacturing sector and make informed decisions about economic and labor policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Manufacturing in Alabama (SMU01000003000000002A), retrieved from FRED.