Average Weekly Hours of Production Employees: Manufacturing: Durable Goods in North Carolina
SMU37000003100000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40.00
Year-over-Year Change
-2.44%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic trend measures the average weekly hours worked by production employees in the durable goods manufacturing sector in North Carolina. It provides insights into labor market conditions and productivity within the state's manufacturing industry.
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 North Carolina series tracks the average number of hours worked per week by production workers in the durable goods manufacturing sector. This metric is a key indicator of labor market conditions and can signal changes in demand, output, and efficiency within the state's manufacturing industry.
Methodology
The data is collected through monthly surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by policymakers, economists, and industry analysts to assess the health and trajectory of North Carolina's manufacturing sector.
Key Facts
- North Carolina is a major center for durable goods manufacturing in the U.S.
- Average weekly hours have fluctuated between 40 and 44 over the past decade.
- The metric is considered a leading indicator of economic conditions in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by production employees in the durable goods manufacturing sector in North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor market conditions and productivity within North Carolina's manufacturing industry, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers, economists, and industry analysts to assess the health and trajectory of North Carolina's manufacturing sector, which informs economic policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical release lag of 1-2 months.
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Citation
U.S. Federal Reserve, Average Weekly Hours of Production Employees: Manufacturing: Durable Goods in North Carolina (SMU37000003100000007A), retrieved from FRED.