Average Weekly Hours of All Employees: Leisure and Hospitality in Colorado
Annual
SMU08000007000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25.70
Year-over-Year Change
-6.20%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the average number of hours worked per week by all employees in the manufacturing sector of the U.S. economy. This metric is a key indicator of labor productivity and 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 Annual trend represents the average number of hours worked per week by manufacturing employees. It is a widely tracked statistic used by economists, policymakers, and businesses to assess the health and efficiency of the U.S. manufacturing industry.
Methodology
The data is collected through monthly surveys of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored for insights into overall economic performance and capacity utilization.
Key Facts
- The average manufacturing employee worked 40.4 hours per week in 2022.
- Manufacturing accounts for about 12% of total U.S. employment.
- Annual hours worked peaked at 42.1 in 1997 before declining.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average number of hours worked per week by all employees in the U.S. manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor productivity, capacity utilization, and the overall health of the manufacturing industry, which is a key driver of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to assess the strength of the manufacturing sector and make informed decisions about economic policy and interventions.
Q: Are there update delays or limitations?
A: The Annual data is released with a one-month lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Annual (SMU08000007000000002A), retrieved from FRED.