Average Weekly Hours of All Employees: Manufacturing in Illinois
Annual
SMU17000003000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
39.00
Year-over-Year Change
-4.18%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the average number of hours worked per year by employees in the United States. It is a key economic indicator for labor productivity and workforce utilization.
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 total number of hours worked by employees across the U.S. economy, divided by the total number of employees. This metric provides insights into workforce productivity and can inform economic policy decisions.
Methodology
The data is collected through surveys of businesses and households by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual trend is widely used by economists, policymakers, and market analysts to assess the health and efficiency of the U.S. labor market.
Key Facts
- The average U.S. employee worked 1,791 hours in 2021.
- Annual hours worked have increased by 3.2% since 2010.
- Productivity gains have outpaced growth in annual hours worked over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average number of hours worked per year by employees in the United States.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend provides insights into workforce productivity and can inform economic policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and households by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Annual trend is widely used by economists, policymakers, and market analysts to assess the health and efficiency of the U.S. labor market.
Q: Are there update delays or limitations?
A: The Annual trend data is released with a short delay and may be subject to revisions.
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Citation
U.S. Federal Reserve, Annual (SMU17000003000000002A), retrieved from FRED.