Average Weekly Hours of Production Employees: Retail Trade in Minnesota
SMU27000004200000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26.10
Year-over-Year Change
-7.77%
Date Range
1/1/2001 - 1/1/2024
Summary
The Average Weekly Hours of Production Employees: Retail Trade in Minnesota measures the average number of hours worked per week by production employees in the retail trade sector in Minnesota. This metric provides insight into employment and labor market conditions in the state.
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 series tracks the average weekly hours worked by production employees in the retail trade industry within Minnesota. It is an important indicator of labor market dynamics and economic activity, as changes in average hours can signal shifts in demand, productivity, or employment levels.
Methodology
The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to assess the health of Minnesota's retail sector and broader economic conditions.
Key Facts
- Measure of average weekly hours worked by production employees in Minnesota's retail trade sector.
- Provides insight into labor market conditions and economic activity in the state.
- Data collected through business surveys by the U.S. Bureau of Labor Statistics.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by production employees in the retail trade sector within the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the labor market dynamics and economic activity in Minnesota's retail trade industry, which is an important component of the state's overall economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the health of Minnesota's retail sector and broader economic conditions, which can inform policy decisions and economic strategies.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedules and potential limitations as other economic indicators collected through business surveys.
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Citation
U.S. Federal Reserve, Average Weekly Hours of Production Employees: Retail Trade in Minnesota (SMU27000004200000007A), retrieved from FRED.