Average Weekly Hours of All Employees: Private Service Providing in Connecticut
SMU09000000800000002 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.70
Year-over-Year Change
0.31%
Date Range
1/1/2007 - 7/1/2025
Summary
This economic trend measures the average weekly hours worked by all private service-providing employees in Connecticut. It is an important indicator of labor market conditions and economic activity in the state.
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 Average Weekly Hours of All Employees: Private Service Providing in Connecticut is a key economic indicator that provides insights into the health of the state's private service sector. It tracks the average number of hours worked per week by employees in industries such as trade, transportation, utilities, information, financial activities, professional and business services, education, and healthcare.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by policymakers, economists, and businesses to understand the dynamics of the Connecticut labor market and make informed decisions.
Key Facts
- Connecticut's private service-providing sector accounts for over 80% of total employment in the state.
- Average weekly hours in this sector have remained relatively stable over the past decade.
- Tracking this trend can help identify shifts in labor demand and productivity across different service industries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by all employees in the private service-providing sector in Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the health and productivity of Connecticut's service-based economy, which is a crucial driver of the state's overall economic performance.
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: Policymakers and economists monitor this trend to assess labor market conditions and make informed decisions regarding economic and workforce development policies in Connecticut.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical lag of about one month from the end of the reference period.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Private Service Providing in Connecticut (SMU09000000800000002), retrieved from FRED.