Average Weekly Hours of Production Employees: Manufacturing: Durable Goods in Connecticut
SMU09000003100000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38.50
Year-over-Year Change
-6.55%
Date Range
1/1/2001 - 1/1/2024
Summary
The 'Average Weekly Hours of Production Employees: Manufacturing: Durable Goods in Connecticut' series measures the average number of hours worked per week by production employees in the durable goods manufacturing sector in the state of Connecticut.
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 metric provides insight into the labor productivity and utilization within Connecticut's durable goods manufacturing industry. It is a key indicator of economic activity and can inform policymakers and analysts about trends in employment, output, and business conditions.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This statistic is monitored by economists, policymakers, and businesses to gauge the health of Connecticut's manufacturing sector.
Key Facts
- Connecticut's durable goods manufacturing accounts for over 10% of the state's GDP.
- The average weekly hours in this sector has remained relatively stable over the past decade.
- Fluctuations in this metric can signal changes in production, overtime, and labor demand.
FAQs
Q: What does this economic trend measure?
A: This series measures the average number of hours worked per week by production employees in the durable goods manufacturing sector in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor productivity, utilization, and overall economic activity within Connecticut's durable goods manufacturing industry, which is an important part of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This statistic is monitored by economists, policymakers, and businesses to gauge the health of Connecticut's manufacturing sector and inform decisions related to employment, output, and business conditions.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, but there may be some delays in reporting due to the survey-based methodology.
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Citation
U.S. Federal Reserve, Average Weekly Hours of Production Employees: Manufacturing: Durable Goods in Connecticut (SMU09000003100000007A), retrieved from FRED.