Average Weekly Hours of Production Employees: Manufacturing: Non-Durable Goods in Indiana
SMU18000003200000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.10
Year-over-Year Change
-9.29%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic trend measures the average weekly hours worked by production employees in the non-durable goods manufacturing sector in Indiana. It provides insights into labor utilization and productivity in a key component of the state's industrial economy.
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: Manufacturing: Non-Durable Goods in Indiana is a monthly economic indicator published by the U.S. Bureau of Labor Statistics. It tracks the average number of hours worked per week by non-supervisory employees in the non-durable manufacturing industries located in the state of Indiana.
Methodology
The data is collected through surveys of employers and calculated as a weighted average of reported weekly hours.
Historical Context
This metric is closely watched by economists and policymakers to assess the health and utilization of Indiana's manufacturing workforce.
Key Facts
- Indiana is a major manufacturing hub, producing over $100 billion in goods annually.
- Non-durable goods account for over 40% of Indiana's total manufacturing output.
- Weekly hours for production workers can signal changes in demand and labor utilization.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average number of hours worked per week by non-supervisory employees in the non-durable manufacturing industries located in the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into labor utilization and productivity in a key component of Indiana's industrial economy, which is closely watched by economists and policymakers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers and calculated as a weighted average of reported weekly hours.
Q: How is this trend used in economic policy?
A: This metric is used by economists and policymakers to assess the health and utilization of Indiana's manufacturing workforce, which informs decisions on economic and labor market policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Average Weekly Hours of Production Employees: Manufacturing: Non-Durable Goods in Indiana (SMU18000003200000007A), retrieved from FRED.