Production or Nonsupervisory Employees: Retail Trade in Utah
Annual, Not Seasonally Adjusted
SMU49000004200000006A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
162.60
Year-over-Year Change
31.77%
Date Range
1/1/2001 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' series measures the total manufacturing hours worked per week in the U.S. This key labor indicator provides insights into production capacity and economic 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 data series tracks the average weekly hours for all employees in the manufacturing sector of the U.S. economy. It is a valuable gauge of labor utilization and productivity trends within the manufacturing industry.
Methodology
The Bureau of Labor Statistics collects this data through monthly establishment surveys.
Historical Context
Policymakers and analysts use this series to assess the health of the manufacturing sector and broader economic activity.
Key Facts
- Manufacturing accounts for about 11% of U.S. GDP.
- Average weekly manufacturing hours peaked at 42.1 in 1997.
- Manufacturing employment has declined from 19 million in 1979 to 12.8 million in 2022.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the average weekly hours for all employees in the U.S. manufacturing sector, providing insights into production capacity and labor utilization.
Q: Why is this trend relevant for users or analysts?
A: The manufacturing hours series is a key indicator of economic conditions, as it reflects changes in production, employment, and overall activity within this important industry.
Q: How is this data collected or calculated?
A: The Bureau of Labor Statistics collects this data through monthly establishment surveys of manufacturing companies.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this series to assess the health of the manufacturing sector and make informed decisions about economic policy, monetary policy, and workforce development.
Q: Are there update delays or limitations?
A: This data is published monthly with a typical lag of 1-2 months. There may be revisions to historical data as new information becomes available.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (SMU49000004200000006A), retrieved from FRED.