All Employees: Professional and Business Services in Illinois
Annual, Not Seasonally Adjusted
SMU17000006000000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
925.30
Year-over-Year Change
7.52%
Date Range
1/1/1990 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' series measures the average number of hours worked per week by manufacturing production and nonsupervisory employees in the United States. This metric is a key indicator of labor productivity and capacity utilization in the 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
This economic trend represents the average weekly hours worked by production and non-supervisory staff in U.S. manufacturing industries. It is a widely tracked indicator that provides insight into labor input, operational efficiency, and overall economic conditions in the manufacturing segment.
Methodology
The data is collected through monthly surveys of a sample of non-farm establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to gauge the health and capacity of the U.S. manufacturing industry.
Key Facts
- Manufacturing accounts for about 11% of U.S. GDP.
- Average weekly hours peaked at 42.1 in 1997.
- Hours declined during the 2008-2009 recession but have since recovered.
FAQs
Q: What does this economic trend measure?
A: This series measures the average number of hours worked per week by production and non-supervisory employees in U.S. manufacturing industries.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor productivity, capacity utilization, and overall conditions in the manufacturing sector, which is a key driver of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of a sample of non-farm establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to gauge the health and capacity of the U.S. manufacturing industry, which informs decisions around fiscal, monetary, and industrial policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of about one month.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (SMU17000006000000001A), retrieved from FRED.