Average Hourly Earnings of Production Employees: Manufacturing in Wisconsin
Annual
SMU55000003000000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26.33
Year-over-Year Change
45.87%
Date Range
1/1/2005 - 1/1/2024
Summary
The Annual trend measures the average weekly hours worked per employee in the private nonfarm sector of the U.S. economy. This metric is a key indicator of labor market conditions and economic 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 average number of hours worked per week by private sector employees. It is used by economists and policymakers to gauge overall employment levels, worker productivity, and the health of the labor market.
Methodology
The data is collected through surveys of private businesses by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual trend informs decision-making on economic and monetary policy.
Key Facts
- The annual average weekly hours peaked at 34.6 in 2000.
- Weekly hours declined during the 2008-2009 recession.
- The trend has remained relatively stable around 34.4 hours since 2010.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average number of hours worked per week by private sector employees in the United States.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend is a key indicator of labor market conditions, worker productivity, and the overall health of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private businesses conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Annual trend informs decision-making on economic and monetary policy by providing insights into employment levels, worker productivity, and labor market dynamics.
Q: Are there update delays or limitations?
A: The Annual trend data is released monthly with a relatively short delay, making it a timely indicator of labor market conditions.
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Citation
U.S. Federal Reserve, Annual (SMU55000003000000008A), retrieved from FRED.