Average Weekly Hours of All Employees: Manufacturing in Wisconsin
SMU55000003000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38.70
Year-over-Year Change
-3.01%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Hours of All Employees: Manufacturing in Wisconsin measures the average number of hours worked per week by manufacturing employees in the state. This indicator provides insights into the production levels and labor demand in Wisconsin's manufacturing sector.
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 monthly series from the U.S. Bureau of Labor Statistics tracks the average weekly hours for all employees in the manufacturing industry within the state of Wisconsin. It is a key economic indicator used to assess the health and productivity of the state's manufacturing base.
Methodology
The data is collected through employer surveys conducted by the Bureau of Labor Statistics.
Historical Context
Trends in average weekly manufacturing hours in Wisconsin are closely monitored by policymakers and industry analysts to gauge the strength of the state's industrial economy.
Key Facts
- Wisconsin is a major manufacturing hub, accounting for over 16% of the state's GDP.
- Manufacturing employs nearly 500,000 workers in Wisconsin, or about 16% of total state employment.
- The average manufacturing workweek in Wisconsin has ranged between 40-44 hours per week over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Average Weekly Hours of All Employees: Manufacturing in Wisconsin measures the average number of hours worked per week by manufacturing employees in the state.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the production levels and labor demand in Wisconsin's manufacturing sector, which is a critical part of the state's 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: Trends in average weekly manufacturing hours in Wisconsin are closely monitored by policymakers and industry analysts to gauge the strength of the state's industrial economy.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical lag of 1-2 months.
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Citation
U.S. Bureau of Labor Statistics, Average Weekly Hours of All Employees: Manufacturing in Wisconsin (SMU55000003000000002A), retrieved from FRED.