Average Weekly Hours of All Employees: Professional and Business Services in Indiana
SMU18000006000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36.20
Year-over-Year Change
3.13%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Hours of All Employees: Professional and Business Services in Indiana trend measures the average number of hours worked per week by employees in Indiana's professional and business services sector.
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
This trend provides insight into the labor market dynamics and economic activity within Indiana's professional and business services industry. It is a key indicator of workforce utilization and productivity that economists and policymakers monitor to assess the health of the state's economy.
Methodology
The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is used to inform economic policy decisions and provide context for other labor market indicators.
Key Facts
- Indiana's professional and business services sector accounts for over 15% of the state's employment.
- Average weekly hours in this sector have remained relatively stable over the past decade.
- The trend is considered a leading indicator of economic conditions in Indiana.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by employees in Indiana's professional and business services sector.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insight into the labor market dynamics and economic activity within Indiana's professional and business services industry, which is a key sector of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to inform economic policy decisions and provide context for other labor market indicators in Indiana.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical delay of several weeks from the end of the reference period.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Professional and Business Services in Indiana (SMU18000006000000002A), retrieved from FRED.