Average Weekly Hours of All Employees: Manufacturing in Louisiana
SMU22000003000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
44.40
Year-over-Year Change
2.30%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Hours of All Employees: Manufacturing in Louisiana measures the average number of hours worked per week by manufacturing workers in the state. This metric provides insights into the health and productivity of Louisiana'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
This economic indicator tracks the average weekly hours logged by all employees in Louisiana's manufacturing industry. It is a key metric used by economists and policymakers to assess labor market conditions, worker productivity, and broader trends in the state's industrial output.
Methodology
The data is collected through surveys of manufacturing establishments in Louisiana by the U.S. Bureau of Labor Statistics.
Historical Context
The average weekly hours metric is closely monitored by the Federal Reserve and other agencies to inform monetary and fiscal policy decisions.
Key Facts
- Louisiana manufacturing contributes over $60 billion annually to the state's economy.
- Manufacturing accounts for nearly 10% of Louisiana's total employment.
- Average weekly hours peaked at 44.6 in 2018 before declining during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: The Average Weekly Hours of All Employees: Manufacturing in Louisiana measures the average number of hours worked per week by manufacturing workers in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the health and productivity of Louisiana's manufacturing sector, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturing establishments in Louisiana by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The average weekly hours metric is closely monitored by the Federal Reserve and other agencies to inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Manufacturing in Louisiana (SMU22000003000000002A), retrieved from FRED.