Average Weekly Hours of All Employees: Goods Producing in South Dakota
SMU46000000600000002 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
39.40
Year-over-Year Change
-1.25%
Date Range
1/1/2007 - 7/1/2025
Summary
This economic trend measures the average weekly hours worked by all employees in the goods-producing sector in South Dakota. It is a key indicator of labor market activity and industrial production in the state.
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 All Employees: Goods Producing in South Dakota metric tracks the average number of hours per week worked by employees across industries like manufacturing, mining, and construction in the state. It provides insight into the level of economic output and utilization of labor resources.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This indicator is closely monitored by economists, policymakers, and businesses to gauge the health and direction of South Dakota's economy.
Key Facts
- South Dakota's goods-producing sector accounts for over 20% of the state's GDP.
- Average weekly hours peaked at 44.7 in mid-2021 as the economy recovered.
- The metric has exhibited seasonal fluctuations over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours per week worked by employees in the goods-producing industries, such as manufacturing, mining, and construction, in the state of South Dakota.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the level of economic activity and labor utilization in South Dakota's industrial sectors, which is valuable information for policymakers, businesses, and economists analyzing the state's economic performance.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This metric is closely monitored by policymakers and economists to gauge the health and direction of South Dakota's economy, informing decision-making on economic and workforce development initiatives.
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 South Dakota (SMU46000000600000002), retrieved from FRED.