Average Weekly Earnings of All Employees: Trade, Transportation, and Utilities in Idaho
Annual
SMU16000004000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
922.63
Year-over-Year Change
54.43%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures average weekly hours worked in the manufacturing industry in the United States. This key economic indicator provides insights into labor market conditions and productivity.
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 production and nonsupervisory employees in the U.S. manufacturing sector. This metric is widely used by economists and policymakers to analyze labor market dynamics and assess the health of the manufacturing industry.
Methodology
The data is collected through monthly surveys of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual trend is monitored closely by the Federal Reserve and other government agencies to inform economic policy decisions.
Key Facts
- The average weekly hours worked in U.S. manufacturing has declined from over 40 hours in the 1950s to around 40 hours today.
- Manufacturing accounts for about 11% of total U.S. employment.
- Trends in manufacturing hours can signal shifts in economic conditions and production levels.
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 insights into labor market conditions and productivity in the manufacturing industry, which is a key driver of the broader 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: The Annual trend is closely monitored by the Federal Reserve and other government agencies to inform economic policy decisions.
Q: Are there update delays or limitations?
A: The Annual data is released monthly with a typical lag of about one month.
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Citation
U.S. Federal Reserve, Annual (SMU16000004000000011A), retrieved from FRED.