Average Weekly Hours of Production Employees: Construction: Specialty Trade Contractors in Minnesota
SMU27000002023800007 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
39.20
Year-over-Year Change
-4.16%
Date Range
1/1/2001 - 6/1/2025
Summary
This economic trend measures the average weekly hours worked by production employees in Minnesota's specialty trade contractors within the construction industry. It provides insights into labor demand and workforce utilization in this key 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 Average Weekly Hours of Production Employees: Construction: Specialty Trade Contractors in Minnesota data series tracks the average number of hours per week worked by production staff in this industry, which includes a range of specialized construction trades. This metric is used by economists and policymakers to gauge labor market conditions and business activity within the state's construction sector.
Methodology
The data is collected through surveys of Minnesota construction firms by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by industry analysts and government agencies to understand the health of Minnesota's construction economy and labor market.
Key Facts
- Minnesota's specialty trade contractors include electricians, plumbers, and HVAC installers.
- This data series dates back to 2003.
- Trends in weekly hours worked can signal changes in construction industry activity.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours per week worked by production employees in Minnesota's specialty trade contractors within the construction industry.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor demand and workforce utilization in Minnesota's construction sector, which is an important indicator of overall economic activity and business conditions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Minnesota construction firms by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts closely monitor this trend to understand the health of Minnesota's construction economy and labor market.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, and there may be some delays in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Average Weekly Hours of Production Employees: Construction: Specialty Trade Contractors in Minnesota (SMU27000002023800007), retrieved from FRED.