Average Weekly Hours of Production Employees: Manufacturing in North Carolina
SMU37000003000000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
39.60
Year-over-Year Change
-3.41%
Date Range
1/1/2001 - 1/1/2024
Summary
The Average Weekly Hours of Production Employees: Manufacturing in North Carolina measures the average number of hours worked per week by manufacturing production workers in the state. This metric provides insight into the labor market and production activity in North Carolina'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 series tracks the average number of hours worked per week by production employees in the manufacturing industry across North Carolina. It is an important indicator of labor utilization and production capacity, which economists and policymakers use to assess the health and trends of the state's manufacturing economy.
Methodology
The data is collected through a monthly survey of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in average weekly manufacturing hours are closely monitored by analysts and policymakers for their implications on employment, output, and economic conditions.
Key Facts
- North Carolina is the 9th largest manufacturing state by output.
- Manufacturing accounts for over 17% of North Carolina's GDP.
- The state has over 10,000 manufacturing establishments.
FAQs
Q: What does this economic trend measure?
A: This series measures the average number of hours worked per week by production employees in the manufacturing industry across North Carolina.
Q: Why is this trend relevant for users or analysts?
A: Trends in average weekly manufacturing hours provide insight into labor utilization, production capacity, and the overall health of North Carolina's manufacturing sector, which is a critical component of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Analysts and policymakers closely monitor changes in average weekly manufacturing hours to assess labor market conditions, production output, and broader economic trends in North Carolina.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical release lag of several weeks.
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Citation
U.S. Federal Reserve, Average Weekly Hours of Production Employees: Manufacturing in North Carolina (SMU37000003000000007A), retrieved from FRED.