Average Weekly Earnings of Production Employees: Manufacturing in Florida
Annual
SMU12000003000000030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,229.00
Year-over-Year Change
53.00%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual Trend measures the average number of hours worked per week by manufacturing production and nonsupervisory employees in the United States. This metric is a key indicator of labor market conditions 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 tracks the average weekly hours worked by production and nonsupervisory employees in the U.S. manufacturing sector. This measure provides insight into labor utilization and productivity trends, which are important for economists and policymakers in understanding the health of the broader economy.
Methodology
The data is collected through the Current Employment Statistics (CES) survey of employers.
Historical Context
The Annual Trend is used to inform monetary and fiscal policy decisions by the Federal Reserve and other government agencies.
Key Facts
- The Annual Trend has averaged around 40.5 hours per week since 2000.
- Manufacturing hours peaked at over 42 hours per week in the late 1990s.
- Declining Annual Trend values can signal economic slowdowns or recessions.
FAQs
Q: What does this economic trend measure?
A: The Annual Trend measures the average number of hours worked per week by production and nonsupervisory employees in the U.S. manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor utilization and productivity trends in the manufacturing industry, which is an important indicator of broader economic conditions.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey of employers.
Q: How is this trend used in economic policy?
A: The Annual Trend is used by the Federal Reserve and other policymakers to inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The Annual Trend data is published monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Annual (SMU12000003000000030A), retrieved from FRED.