Average Weekly Hours of Production Employees: Manufacturing: Non-Durable Goods in Missouri
Annual
SMU29000003200000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38.30
Year-over-Year Change
-3.04%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual trend measures the annual average of all employees in the total nonfarm industry in the United States. This key economic indicator provides insights into overall employment and labor market conditions.
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 Annual trend represents the average number of total nonfarm employees across the 12 months of the year. It is a widely followed metric that reflects the overall health and direction of the U.S. labor market and broader economy.
Methodology
The data is collected through the Current Employment Statistics (CES) survey, a monthly survey of businesses and government agencies.
Historical Context
Policymakers and analysts closely monitor this trend to assess macroeconomic performance and guide decisions on interest rates, employment programs, and other economic policies.
Key Facts
- The Annual trend reached a record high of 153.1 million in 2019.
- Nonfarm employment fell sharply during the COVID-19 pandemic in 2020.
- The trend is a key input for the Federal Reserve's dual mandate of price stability and maximum employment.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average number of total nonfarm employees in the United States across the full calendar year.
Q: Why is this trend relevant for users or analysts?
A: This key labor market indicator provides insights into the overall health and direction of the U.S. economy, making it crucial for policymakers, economists, and investors.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey, a monthly survey of businesses and government agencies.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor the Annual trend to assess macroeconomic performance and guide decisions on interest rates, employment programs, and other economic policies.
Q: Are there update delays or limitations?
A: The Annual trend data is subject to revisions and may have a delay of several months before the final figures are published.
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Citation
U.S. Federal Reserve, Annual (SMU29000003200000007A), retrieved from FRED.