Average Weekly Hours of All Employees: Construction in Louisiana
Annual
SMU22000002000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
42.90
Year-over-Year Change
2.88%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the average annual change in manufacturing employment in the United States. It is a key indicator of 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 tracks the year-over-year percent change in the number of non-farm manufacturing jobs in the United States. It provides insights into the expansion or contraction of the manufacturing industry and helps economists and policymakers assess the broader economic climate.
Methodology
The data is collected through surveys of U.S. establishments by the Bureau of Labor Statistics.
Historical Context
Analysts and policymakers use the Annual trend to inform decisions about economic and industrial policy.
Key Facts
- The Annual trend reached a low of -5.5% in 2009 during the Great Recession.
- Manufacturing employment has declined from over 19 million jobs in 1979 to under 12 million today.
- The Annual trend has averaged around 0.5% growth per year over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year percent change in the number of non-farm manufacturing jobs in the United States.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend provides insights into the expansion or contraction of the manufacturing industry, which is a key driver of the broader U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of U.S. establishments by the Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use the Annual trend to inform decisions about economic and industrial policy, such as trade, taxation, and workforce development.
Q: Are there update delays or limitations?
A: The Annual trend is published monthly with a typical delay of one to two months.
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Citation
U.S. Federal Reserve, Annual (SMU22000002000000002A), retrieved from FRED.