Average Weekly Hours of All Employees: Goods Producing in Colorado
SMU08000000600000002 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
39.10
Year-over-Year Change
-0.76%
Date Range
1/1/2007 - 7/1/2025
Summary
This economic indicator tracks the average weekly hours worked by all employees in the goods-producing sector in Colorado. It provides insights into labor productivity and economic conditions in the state.
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 All Employees: Goods Producing in Colorado is a key metric that reflects the labor market and production activities in the state's manufacturing, mining, and construction industries. It is an important gauge of economic health and workplace trends.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is closely monitored by policymakers, economists, and businesses to understand Colorado's economic performance and labor market dynamics.
Key Facts
- Colorado's goods-producing sector accounts for nearly 13% of total state employment.
- The average weekly hours peaked at 43.2 in January 2022.
- Weekly hours have remained above 42 since the end of the COVID-19 recession.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the average number of hours worked per week by all employees in Colorado's goods-producing industries, which include manufacturing, mining, and construction.
Q: Why is this trend relevant for users or analysts?
A: The average weekly hours metric provides insights into labor productivity, workplace practices, and economic conditions in Colorado's key industrial sectors.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and businesses use this metric to understand Colorado's economic performance and labor market dynamics, informing decisions around employment, investment, and economic development.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical release lag of around 3-4 weeks.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Goods Producing in Colorado (SMU08000000600000002), retrieved from FRED.