Average Weekly Hours of All Employees: Manufacturing in Missouri
SMU29000003000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40.40
Year-over-Year Change
0.00%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Hours of All Employees: Manufacturing in Missouri measures the average number of hours worked per week by manufacturing workers in the state. This data provides insight into the productivity and labor utilization of Missouri'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 worked by all employees in the manufacturing industry across Missouri. It is a key measure of labor input and utilization, and can signal changes in production, overtime, and the overall health of the state's manufacturing economy.
Methodology
The data is collected through surveys of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists use this metric to assess the strength of Missouri's manufacturing activity and labor market.
Key Facts
- Manufacturing accounts for about 10% of Missouri's GDP.
- Average weekly hours peaked at 44.6 in 2018.
- Hours worked declined during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: The Average Weekly Hours of All Employees: Manufacturing in Missouri 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 indicator provides insight into the productivity and labor utilization of Missouri's manufacturing sector, which is an important driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the strength of Missouri's manufacturing activity and labor market, which informs economic and workforce development decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a short lag, and may be subject to revisions as more information becomes available.
Related Trends
Real Gross Domestic Product: Oil and Gas Extraction (211) in Missouri
MOOILGASRGSP
All Employees: Leisure and Hospitality: Food Services and Drinking Places in Missouri
SMU29000007072200001SA
All Employees: Education and Health Services: Private Educational Services in Missouri
SMS29000006561000001
All Employees: Construction: Construction of Buildings in Missouri
SMU29000002023600001SA
Gross Domestic Product: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Missouri
MOOTRANEQMANNGSP
Average Weekly Hours of Production Employees: Construction in Missouri
SMU29000002000000007
Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Manufacturing in Missouri (SMU29000003000000002A), retrieved from FRED.