Average Weekly Hours of All Employees: Goods Producing in Rhode Island
SMU44000000600000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.50
Year-over-Year Change
-2.34%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Weekly Hours of All Employees: Goods Producing in Rhode Island' trend measures the average number of hours worked per week by goods-producing employees in Rhode Island. This metric provides insight into the state's economic activity 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
This economic indicator tracks the average weekly hours worked by employees in Rhode Island's goods-producing industries, which include manufacturing, construction, and mining. It serves as a barometer of production levels and labor demand within the state's industrial sectors.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this trend to assess the health of Rhode Island's manufacturing and industrial base.
Key Facts
- The series has been tracked since 1939.
- The all-time high was 42.4 hours in December 1943.
- Rhode Island's goods-producing sector accounts for over 15% of the state's employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by employees in Rhode Island's goods-producing industries, such as manufacturing, construction, and mining.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the production levels and labor demand within Rhode Island's industrial sectors, serving as a barometer of the state's economic activity and manufacturing health.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the health of Rhode Island's manufacturing and industrial base, which informs economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Goods Producing in Rhode Island (SMU44000000600000002A), retrieved from FRED.