Average Weekly Hours of Production Employees: Manufacturing in Hawaii
SMU15000003000000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
39.70
Year-over-Year Change
5.03%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic indicator measures the average weekly hours worked by production employees in the manufacturing industry in Hawaii. It provides insights into labor utilization and productivity trends in the state's manufacturing sector.
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 in Hawaii is a key metric used by economists and policymakers to assess the health and activity levels of the state's manufacturing industry. It reflects the typical workweek for production workers, which can signal changes in demand, overtime, and labor utilization.
Methodology
The data is collected through surveys of manufacturing establishments in Hawaii by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is closely monitored by analysts to gauge the overall performance and outlook of Hawaii's manufacturing sector.
Key Facts
- Hawaii's manufacturing sector accounts for around 2% of the state's GDP.
- The average workweek for production employees has remained relatively stable over the past decade.
- Manufacturing contributes significantly to Hawaii's export-oriented economy.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the average number of hours worked per week by production employees in Hawaii's manufacturing industry.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor utilization and productivity trends in Hawaii's manufacturing sector, which is an important component of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturing establishments in Hawaii by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Analysts and policymakers monitor this indicator to gauge the overall performance and outlook of Hawaii's manufacturing industry, which can inform economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical release lag of about one month.
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Citation
U.S. Federal Reserve, Average Weekly Hours of Production Employees: Manufacturing in Hawaii (SMU15000003000000007A), retrieved from FRED.