Average Weekly Hours of Production Employees: Manufacturing: Durable Goods in Alabama
SMU01000003100000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
41.10
Year-over-Year Change
-7.01%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic indicator tracks the average weekly hours worked by production employees in the durable goods manufacturing sector in Alabama. It provides insights into labor utilization and production capacity in the state's manufacturing industry.
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 Average Weekly Hours of Production Employees: Manufacturing: Durable Goods in Alabama measure represents the average number of hours worked per week by production employees in the durable goods manufacturing industry within the state. This statistic is used by economists and policymakers to assess labor market conditions, production capacity, and trends in Alabama's manufacturing sector.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is relevant for understanding Alabama's economic and industrial activity, as well as informing policy decisions related to manufacturing and employment.
Key Facts
- The average weekly hours for Alabama's durable goods manufacturing employees is currently X.X hours.
- Manufacturing accounts for approximately Y% of Alabama's total economic output.
- Durable goods production represents Z% of the state's overall manufacturing activity.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the average number of hours worked per week by production employees in the durable goods manufacturing sector within the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor utilization, production capacity, and trends within Alabama's manufacturing industry, which is an important 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 health and dynamics of Alabama's manufacturing sector, which can inform decisions related to economic development, workforce policies, and industrial support programs.
Q: Are there update delays or limitations?
A: The data is published monthly by the U.S. Federal Reserve, with a typical lag of 1-2 months. There may be limitations in coverage or accuracy for smaller geographic areas or specific industries.
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Citation
U.S. Federal Reserve, Average Weekly Hours of Production Employees: Manufacturing: Durable Goods in Alabama (SMU01000003100000007A), retrieved from FRED.