Average Weekly Hours of All Employees: Goods Producing in Massachusetts
SMU25000000600000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
39.40
Year-over-Year Change
0.51%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Weekly Hours of All Employees: Goods Producing in Massachusetts' measures the average number of hours worked per week by employees in the goods-producing sector in the state of Massachusetts.
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 provides insight into the labor market and production trends within Massachusetts' goods-producing industries, which include manufacturing, construction, and mining. It is used by economists and policymakers to analyze workforce productivity and capacity utilization.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend helps inform economic and workforce development policies at the state level.
Key Facts
- The data is released monthly by the U.S. Bureau of Labor Statistics.
- Massachusetts is a major manufacturing hub in the Northeast.
- Average weekly hours can signal changes in labor demand and economic activity.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by employees in the goods-producing sector, which includes manufacturing, construction, and mining, in the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into workforce productivity and utilization within Massachusetts' key goods-producing industries, which is useful for economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend helps inform economic and workforce development policies at the state level in Massachusetts by providing data on labor market conditions in the goods-producing sector.
Q: Are there update delays or limitations?
A: The data is released monthly with a short delay, and may be subject to revisions by the statistical agency.
Related Trends
Real Gross Domestic Product: Farms (111-112) in Massachusetts
MAFARMRGSP
Exports of Goods for Massachusetts
EXPTOTMA
Unemployed Persons in Massachusetts
LAUST250000000000004A
Labor Force Participation Rate for Massachusetts
LBSSA25
Average Weekly Earnings of All Employees: Financial Activities in Massachusetts
SMU25000005500000011
All Employees: Social Assistance: Individual and Family Services in Massachusetts
SMU25000006562410001A
Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Goods Producing in Massachusetts (SMU25000000600000002A), retrieved from FRED.