Monday, September 9, 2013

Hours Worked (Musical Tribute)

The following chart shows the 24-month moving average of average weekly hours of private production and non-supervisory employees. I have added an exponential trend line in red.

Click to enlarge.

The next chart shows the deviation from the long-term trend. I have added recession indicators in blue.

Click to enlarge.

The next two charts provide a short-term look at that same data.

Click to enlarge.

Note that the 24-month moving average of hours worked is starting to roll over (again). This does not bode well for future employment growth.

Click to enlarge.

The Jetsons

George Jetson's workweek is typical of his era: an hour a day, two days a week.

Source Data:
St. Louis Fed: NBER based Recession Indicators
St. Louis Fed: Average Weekly Hours Of Production And Nonsupervisory Employees: Total private

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