{
  "name": "Prehn Hours of Work Index",
  "built": "2026-09-27",
  "base": "2000 average = 100 hours",
  "latest": {
    "period": "2026-08",
    "index": 340.8,
    "hours_stocks": 23.7,
    "hours_gold": 137.4,
    "years_house": 6.31,
    "wage": 32.53,
    "hours_house": 12625,
    "index_stocks": 232.7,
    "index_gold": 684.3,
    "index_house": 105.6,
    "index_ex_house": 399.0,
    "spx": 7711,
    "gold": 4469,
    "house": 410700,
    "saving_rate": null
  },
  "basket_quantities_2000": {
    "tenths_of_sp500": 3.2719,
    "ounces_gold": 1.6604,
    "share_of_median_house": 0.002787
  },
  "annual": {
    "1964": {
      "index": 54.2,
      "hours_stocks": 3.2,
      "hours_gold": 13.8,
      "years_house": 3.73,
      "wage": 2.54,
      "spx": 81,
      "gold": 35,
      "house": 18925
    },
    "1970": {
      "index": 44.7,
      "hours_stocks": 2.4,
      "hours_gold": 10.5,
      "years_house": 3.45,
      "wage": 3.4,
      "spx": 83,
      "gold": 36,
      "house": 23475
    },
    "1975": {
      "index": 85.5,
      "hours_stocks": 1.8,
      "hours_gold": 34.0,
      "years_house": 4.14,
      "wage": 4.74,
      "spx": 86,
      "gold": 161,
      "house": 39275
    },
    "1980": {
      "index": 179.6,
      "hours_stocks": 1.7,
      "hours_gold": 88.8,
      "years_house": 4.73,
      "wage": 6.85,
      "spx": 119,
      "gold": 608,
      "house": 64750
    },
    "1985": {
      "index": 94.3,
      "hours_stocks": 2.1,
      "hours_gold": 36.4,
      "years_house": 4.82,
      "wage": 8.73,
      "spx": 187,
      "gold": 318,
      "house": 84275
    },
    "1990": {
      "index": 107.2,
      "hours_stocks": 3.3,
      "hours_gold": 38.0,
      "years_house": 6.0,
      "wage": 10.2,
      "spx": 335,
      "gold": 387,
      "house": 122300
    },
    "1995": {
      "index": 102.2,
      "hours_stocks": 4.6,
      "hours_gold": 33.2,
      "years_house": 5.73,
      "wage": 11.65,
      "spx": 542,
      "gold": 386,
      "house": 133475
    },
    "2000": {
      "index": 100.0,
      "hours_stocks": 10.2,
      "hours_gold": 20.1,
      "years_house": 5.98,
      "wage": 14.01,
      "spx": 1427,
      "gold": 281,
      "house": 167550
    },
    "2005": {
      "index": 111.5,
      "hours_stocks": 7.5,
      "hours_gold": 27.7,
      "years_house": 7.34,
      "wage": 16.11,
      "spx": 1207,
      "gold": 447,
      "house": 236550
    },
    "2008": {
      "index": 137.9,
      "hours_stocks": 6.8,
      "hours_gold": 48.4,
      "years_house": 6.36,
      "wage": 18.06,
      "spx": 1221,
      "gold": 874,
      "house": 229550
    },
    "2010": {
      "index": 159.0,
      "hours_stocks": 6.0,
      "hours_gold": 64.4,
      "years_house": 5.84,
      "wage": 19.05,
      "spx": 1139,
      "gold": 1227,
      "house": 222700
    },
    "2012": {
      "index": 198.1,
      "hours_stocks": 7.0,
      "hours_gold": 84.7,
      "years_house": 6.19,
      "wage": 19.72,
      "spx": 1380,
      "gold": 1671,
      "house": 244400
    },
    "2015": {
      "index": 162.7,
      "hours_stocks": 9.8,
      "hours_gold": 55.2,
      "years_house": 6.99,
      "wage": 21.03,
      "spx": 2061,
      "gold": 1160,
      "house": 294150
    },
    "2019": {
      "index": 177.1,
      "hours_stocks": 12.4,
      "hours_gold": 59.4,
      "years_house": 6.81,
      "wage": 23.51,
      "spx": 2912,
      "gold": 1397,
      "house": 320250
    },
    "2020": {
      "index": 199.2,
      "hours_stocks": 13.0,
      "hours_gold": 71.9,
      "years_house": 6.65,
      "wage": 24.68,
      "spx": 3219,
      "gold": 1777,
      "house": 328150
    },
    "2021": {
      "index": 210.4,
      "hours_stocks": 16.5,
      "hours_gold": 69.5,
      "years_house": 7.39,
      "wage": 25.91,
      "spx": 4267,
      "gold": 1800,
      "house": 383000
    },
    "2022": {
      "index": 201.3,
      "hours_stocks": 14.9,
      "hours_gold": 65.6,
      "years_house": 7.85,
      "wage": 27.56,
      "spx": 4101,
      "gold": 1806,
      "house": 432950
    },
    "2023": {
      "index": 201.8,
      "hours_stocks": 14.8,
      "hours_gold": 67.6,
      "years_house": 7.38,
      "wage": 28.92,
      "spx": 4284,
      "gold": 1955,
      "house": 426525
    },
    "2024": {
      "index": 230.0,
      "hours_stocks": 18.0,
      "hours_gold": 79.7,
      "years_house": 6.96,
      "wage": 30.12,
      "spx": 5427,
      "gold": 2402,
      "house": 418975
    },
    "2025": {
      "index": 284.9,
      "hours_stocks": 19.8,
      "hours_gold": 110.3,
      "years_house": 6.63,
      "wage": 31.34,
      "spx": 6211,
      "gold": 3461,
      "house": 415400
    },
    "2026": {
      "index": 345.0,
      "hours_stocks": 22.3,
      "hours_gold": 142.5,
      "years_house": 6.36,
      "wage": 32.25,
      "spx": 7186,
      "gold": 4595,
      "house": 409875
    }
  },
  "records": {
    "index_max": {
      "period": "2026-02",
      "index": 366.1,
      "hours_stocks": 21.5,
      "hours_gold": 156.7,
      "years_house": 6.37,
      "wage": 32.04
    },
    "index_min": {
      "period": "1970-08",
      "index": 42.9,
      "hours_stocks": 2.3,
      "hours_gold": 10.2,
      "years_house": 3.34,
      "wage": 3.44
    },
    "stocks_min_hours": {
      "period": "1982-08",
      "index": 105.0,
      "hours_stocks": 1.4,
      "hours_gold": 45.8,
      "years_house": 4.36,
      "wage": 7.94
    },
    "house_max_years": {
      "period": "2022-04",
      "index": 215.3,
      "hours_stocks": 16.1,
      "hours_gold": 71.0,
      "years_house": 8.02,
      "wage": 27.28
    }
  },
  "change_12m_pct": 20.3,
  "series": {
    "AHETPI": {
      "source": "FRED",
      "title": "Average Hourly Earnings of Production and Nonsupervisory Employees, Total Private",
      "units": "Dollars per Hour",
      "frequency": "Monthly",
      "last_obs": "2026-08-01",
      "last_value": 32.53,
      "last_updated": "2026-09-04"
    },
    "MSPUS": {
      "source": "FRED",
      "title": "Median Sales Price of New Houses Sold for the United States",
      "units": "Dollars",
      "frequency": "Quarterly",
      "last_obs": "2026-04-01",
      "last_value": 410700.0,
      "last_updated": "2026-07-24"
    },
    "PSAVERT": {
      "source": "FRED",
      "title": "Personal Saving Rate",
      "units": "Percent",
      "frequency": "Monthly",
      "last_obs": "2026-07-01",
      "last_value": 3.0,
      "last_updated": "2026-08-26"
    },
    "^GSPC": {
      "source": "Financial Modeling Prep",
      "title": "S&P 500 index, daily close",
      "units": "US dollars",
      "frequency": "Daily",
      "last_obs": "2026-09-25",
      "last_value": 7743.41,
      "last_updated": "2026-09-27"
    },
    "GCUSD": {
      "source": "Financial Modeling Prep",
      "title": "Gold futures, front month, US dollars per troy ounce, daily close",
      "units": "US dollars",
      "frequency": "Daily",
      "last_obs": "2026-09-25",
      "last_value": 4321.2,
      "last_updated": "2026-09-27"
    }
  }
}