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.<br /><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhDfHIsgveQJWo_j_irmf3fc9cQuVM02TREhCcbPJCXbG9iL4hfTJvR_8O3TQz5RLmKONchP0XoREGtTIuzigaPwYCmKzZd_i4ZnTJx8OGnFWl8b5HvLB6_S2djXo42ETSJhyphenhyphengwFP0tt8s/s1600/Hours+Worked+-+Long-Term.jpg" imageanchor="1"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhDfHIsgveQJWo_j_irmf3fc9cQuVM02TREhCcbPJCXbG9iL4hfTJvR_8O3TQz5RLmKONchP0XoREGtTIuzigaPwYCmKzZd_i4ZnTJx8OGnFWl8b5HvLB6_S2djXo42ETSJhyphenhyphengwFP0tt8s/s320/Hours+Worked+-+Long-Term.jpg" /></a><br /><span style="font-size: x-small;">Click to enlarge.</span><br /><br />The next chart shows the deviation from the long-term trend. I have added recession indicators in blue.<br /><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjH0uVaOJ09oqAnPAypeQ1UxNDqQZleSx-_H7JyVQ-zcferyBDv-JvXX1KDXvxPJo9SZLOfuO7hVZtD60MOjnGC8Np86n-uc5RtVPRRHE1qrqKHFd-zvkTjX2FUO3o9EcLGYva2c51dTmI/s1600/Deviation+from+Trend+-+Long-Term.jpg" imageanchor="1"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjH0uVaOJ09oqAnPAypeQ1UxNDqQZleSx-_H7JyVQ-zcferyBDv-JvXX1KDXvxPJo9SZLOfuO7hVZtD60MOjnGC8Np86n-uc5RtVPRRHE1qrqKHFd-zvkTjX2FUO3o9EcLGYva2c51dTmI/s320/Deviation+from+Trend+-+Long-Term.jpg" /></a><br /><span style="font-size: x-small;">Click to enlarge.</span><br /><br />The next two charts provide a short-term look at that same data.<br /><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjcxuGuV2QLA0m19XBulp3qdfidWRgmuXQHA4m_e0OpAinx7P0h13ZbfM0_7n6ijpCDD7-cpAmzH0JSoHjlfxr9OEz1RpaS2ppK-xl2pXfsuLr_FL2hMNkUwLxRO_OeQ5Ze5Tj8i-0LOVg/s1600/Hours+Worked+-+Short-Term.jpg" imageanchor="1"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjcxuGuV2QLA0m19XBulp3qdfidWRgmuXQHA4m_e0OpAinx7P0h13ZbfM0_7n6ijpCDD7-cpAmzH0JSoHjlfxr9OEz1RpaS2ppK-xl2pXfsuLr_FL2hMNkUwLxRO_OeQ5Ze5Tj8i-0LOVg/s320/Hours+Worked+-+Short-Term.jpg" /></a><br /><span style="font-size: x-small;">Click to enlarge.</span><br /><br />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.<br /><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh2lXqst9VLHY7sX9bKpPxAFi5zIxnRmitVu2ZqbMIjCwJ38gvf56hO_qynGDiUxIaLzhv2k2JvW3us0aqdFP1JCc6jFwmWM0zx4WAsAOtP1KoCKPD5tH5GjP2dxUrMqrE_629qHQ3-69c/s1600/Deviation+from+Trend+-+Short-Term.jpg" imageanchor="1"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh2lXqst9VLHY7sX9bKpPxAFi5zIxnRmitVu2ZqbMIjCwJ38gvf56hO_qynGDiUxIaLzhv2k2JvW3us0aqdFP1JCc6jFwmWM0zx4WAsAOtP1KoCKPD5tH5GjP2dxUrMqrE_629qHQ3-69c/s320/Deviation+from+Trend+-+Short-Term.jpg" /></a><br /><span style="font-size: x-small;">Click to enlarge.</span><br /><br /><iframe allowfullscreen="" frameborder="0" height="315" src="//www.youtube.com/embed/Yjy-fnsmWR4" width="420"></iframe><br /><br /><a href="http://en.wikipedia.org/wiki/The_Jetsons">The Jetsons</a><br /><br /><div style="color: #666666;"><i>George Jetson's workweek is typical of his era: an hour a day, two days a week.</i></div><br /><b>Source Data:</b><br /><a href="http://research.stlouisfed.org/fred2/series/USRECM">St. Louis Fed: NBER based Recession Indicators</a><br /><a href="http://research.stlouisfed.org/fred2/series/AWHNONAG">St. Louis Fed: Average Weekly Hours Of Production And Nonsupervisory Employees: Total private</a>

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 ad...

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