Average Weekly Hours of Production Employees: Manufacturing: Durable Goods in Utah
SMU49000003100000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40.50
Year-over-Year Change
-1.22%
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 Utah. It provides insights into labor market dynamics and economic conditions 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 metric tracks the number of hours per week that production workers in Utah's durable goods manufacturing industry typically work. This data point is a key indicator of labor market trends and can inform economic policy decisions.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This manufacturing hours metric is closely monitored by policymakers and economists to assess the health of Utah's industrial sector.
Key Facts
- Utah's durable goods manufacturing sector employs over 100,000 workers.
- Average weekly hours peaked at 45.3 in December 2020.
- Manufacturing accounts for 9% of Utah's total GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by production employees in Utah's durable goods manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor market conditions and the overall health of Utah's industrial economy.
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 economists closely monitor this manufacturing hours data to assess the state of Utah's industrial sector and make informed policy decisions.
Q: Are there update delays or limitations?
A: This data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Average Weekly Hours of Production Employees: Manufacturing: Durable Goods in Utah (SMU49000003100000007A), retrieved from FRED.