Average Weekly Hours of Production Employees: Non-Durable Goods: Food Manufacturing in Illinois
SMU17000003231100007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38.30
Year-over-Year Change
-7.49%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic trend measures the average weekly hours worked by production employees in the food manufacturing industry in Illinois. It provides insights into labor productivity and operational changes within this key 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: Non-Durable Goods: Food Manufacturing in Illinois statistic tracks the typical number of hours worked per week by employees directly involved in the production process for food manufacturing companies located in the state. This metric helps economists and policymakers understand labor market dynamics and operational efficiency in a vital Illinois industry.
Methodology
The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in this indicator can inform economic and labor policies, as well as investment decisions by food manufacturers and related industries.
Key Facts
- The food manufacturing industry is a major employer in Illinois.
- Changes in average weekly hours can signal shifts in production capacity or labor demand.
- The data is released monthly by the U.S. Bureau of Labor Statistics.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by production employees in the food manufacturing industry located in Illinois.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into labor productivity, operational efficiency, and changes in production capacity within the food manufacturing sector in Illinois, which is an important part of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in this indicator can inform economic and labor policies, as well as investment decisions by food manufacturers and related industries in Illinois.
Q: Are there update delays or limitations?
A: The data is released monthly by the U.S. Bureau of Labor Statistics, with minimal update delays.
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Citation
U.S. Federal Reserve, Average Weekly Hours of Production Employees: Non-Durable Goods: Food Manufacturing in Illinois (SMU17000003231100007A), retrieved from FRED.