Average Weekly Hours of Production Employees: Manufacturing: Durable Goods in Missouri
SMU29000003100000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
42.10
Year-over-Year Change
-0.24%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic indicator tracks the average weekly hours worked by production employees in the manufacturing of durable goods in Missouri. It provides insights into labor utilization and productivity in this key economic 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: Manufacturing: Durable Goods in Missouri metric represents the average number of hours per week worked by hourly production workers in the durable goods manufacturing industry within the state of Missouri. This data series is a useful indicator of labor market conditions and can inform economic analysis and policymaking.
Methodology
The data is collected through a monthly survey of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by economists, policymakers, and industry analysts to assess the health and productivity of Missouri's manufacturing sector.
Key Facts
- This metric has been tracked since 1990.
- Durable goods manufacturing accounts for a significant portion of Missouri's economy.
- Average weekly hours can signal changes in labor demand and utilization.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the average number of hours per week worked by hourly production employees in the durable goods manufacturing industry in Missouri.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor utilization and productivity in a key sector of Missouri's economy, which is valuable information for economists, policymakers, and industry analysts.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This indicator is closely monitored to assess the health and productivity of Missouri's manufacturing sector, which can inform economic analysis and policymaking decisions.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical delay of one to two months.
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Citation
U.S. Federal Reserve, Average Weekly Hours of Production Employees: Manufacturing: Durable Goods in Missouri (SMU29000003100000007A), retrieved from FRED.