All Employees: Manufacturing: Durable Goods in Utah
Annual
SMU49000003100000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
97.80
Year-over-Year Change
27.68%
Date Range
1/1/1990 - 1/1/2024
Summary
The Annual Trend measures the total annual hours worked in the private, non-farm sector of the U.S. economy. This metric is a key indicator of labor market activity and productivity.
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 tracks the total number of hours worked by employees in private, non-agricultural industries over the course of a year. It provides insights into the overall level of economic activity and can be used to analyze trends in labor utilization and productivity.
Methodology
The data is collected through surveys of businesses and households by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists closely monitor the Annual Trend to gauge the health of the labor market and broader economic conditions.
Key Facts
- Annual hours worked reached a high of 270 billion in 2019.
- The trend declined sharply in 2020 due to the COVID-19 pandemic.
- Annual hours worked are a leading indicator of economic growth.
FAQs
Q: What does this economic trend measure?
A: The Annual Trend measures the total number of hours worked by employees in the private, non-farm sector of the U.S. economy over the course of a year.
Q: Why is this trend relevant for users or analysts?
A: The Annual Trend is a key indicator of labor market activity and productivity, providing insights into the overall level of economic output.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and households by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor the Annual Trend to gauge the health of the labor market and broader economic conditions.
Q: Are there update delays or limitations?
A: The Annual Trend data is published with a relatively short delay and provides a comprehensive view of labor market activity.
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Citation
U.S. Federal Reserve, Annual (SMU49000003100000001A), retrieved from FRED.