Average Weekly Hours of Production Employees: Wholesale Trade: Merchant Wholesalers, Durable Goods in Illinois
Annual
SMU17000004142300007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38.50
Year-over-Year Change
-1.79%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual trend measures total employment in the Manufacturing industry in the United States. This key economic indicator provides insights into the health and productivity of the U.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 Annual trend represents the total number of employees on nonfarm payrolls in the Manufacturing industry. It is a widely tracked metric that reflects the overall strength and performance of the U.S. manufacturing economy.
Methodology
The data is collected through monthly surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this trend to assess the condition of the manufacturing sector and its influence on the broader economy.
Key Facts
- Annual manufacturing employment peaked in 1979 at over 19 million workers.
- Manufacturing employment has declined by over 5 million jobs since the 1990s.
- The COVID-19 pandemic led to a sharp drop in manufacturing employment in 2020.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the total number of employees on nonfarm payrolls in the Manufacturing industry in the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the health and performance of the U.S. manufacturing sector, which is a crucial component of the broader economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of business establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the condition of the manufacturing sector and its influence on the broader economy, informing economic policies and decisions.
Q: Are there update delays or limitations?
A: The Annual manufacturing employment data is released monthly with a relatively short delay, making it a timely indicator of economic conditions.
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Citation
U.S. Federal Reserve, Annual (SMU17000004142300007A), retrieved from FRED.