Average Weekly Hours of All Employees: Goods Producing in Mississippi
SMU28000000600000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40.30
Year-over-Year Change
-1.95%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Hours of All Employees: Goods Producing in Mississippi is an economic indicator that measures the average number of hours worked per week by goods-producing employees in the state of Mississippi.
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 metric provides insight into the production and labor utilization within Mississippi's goods-producing industries, which include manufacturing, mining, and construction. It is a key statistic used by economists and policymakers to analyze workforce trends and labor market conditions.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This indicator is frequently referenced when evaluating the health of Mississippi's manufacturing and industrial sectors.
Key Facts
- The average weekly hours peaked at 42.2 in December 2018.
- The metric declined during the COVID-19 pandemic, reaching a low of 38.3 in April 2020.
- Mississippi's goods-producing sector accounts for approximately 17% of the state's total employment.
FAQs
Q: What does this economic trend measure?
A: The Average Weekly Hours of All Employees: Goods Producing in Mississippi measures the average number of hours worked per week by employees in Mississippi's goods-producing industries, which include manufacturing, mining, and construction.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the production and labor utilization within Mississippi's industrial sectors, making it a key statistic used by economists and policymakers to analyze workforce trends and labor market conditions in the state.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This indicator is frequently referenced when evaluating the health of Mississippi's manufacturing and industrial sectors, which are important for the state's economic development and growth.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical one-month delay between the reference period and the publication of the statistics.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Goods Producing in Mississippi (SMU28000000600000002A), retrieved from FRED.