Average Weekly Earnings of Production Employees: Manufacturing in Illinois
Annual
SMU17000003000000030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,032.80
Year-over-Year Change
30.45%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual trend measures the average number of weekly hours worked per employee in the private, nonfarm business sector of the U.S. economy. This metric is a key indicator of 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 private, nonfarm employees in the United States. This data point is widely used by economists and policymakers to assess labor market dynamics, workforce utilization, and productivity trends.
Methodology
The data is collected through surveys of private, nonfarm business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual trend provides important context for understanding broader economic conditions and informing policy decisions.
Key Facts
- The Annual average is calculated from weekly hours data.
- This metric helps track changes in workforce utilization over time.
- Policymakers monitor the Annual trend to assess the health of the labor market.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average number of weekly hours worked per employee in the private, nonfarm business sector of the U.S. economy.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend is a key indicator of labor market conditions, workforce utilization, and productivity that informs economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private, nonfarm business establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers monitor the Annual trend to assess the health of the labor market and broader economic conditions, which informs policy decisions.
Q: Are there update delays or limitations?
A: The Annual data is subject to the normal data collection and release schedule of the U.S. Bureau of Labor Statistics.
Related Trends
Real Gross Domestic Product: Oil and Gas Extraction (211) in Illinois
ILOILGASRGSP
All Employees: Investigation and Security Services in Illinois
SMU17000006056160001A
Unemployed Persons in Illinois
LAUST170000000000004
Total Carbon Dioxide Emissions From All Sectors, All Fuels for Illinois
EMISSCO2TOTVTTTOILA
All Employees: Durable Goods: Nonmetallic Mineral Product Manufacturing in Illinois
SMU17000003132700001A
Real Gross Domestic Product: Management of Companies and Enterprises (55) in Illinois
ILMNGCOENTPRRQGSP
Citation
U.S. Federal Reserve, Annual (SMU17000003000000030A), retrieved from FRED.