All Employees: Retail Trade in Maryland
Annual, Not Seasonally Adjusted
SMU24000004200000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
271.20
Year-over-Year Change
-4.51%
Date Range
1/1/1990 - 1/1/2024
Summary
This annual, not seasonally adjusted economic series measures average weekly hours worked in the private sector in the United States. It provides insights into overall labor market trends and productivity.
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 data series tracks the average number of hours worked per week by private sector employees in the U.S. This metric is a key indicator of economic activity and labor market conditions, as it reflects changes in labor demand and utilization.
Methodology
The data is collected through the Current Employment Statistics (CES) survey, a monthly nationwide sample survey of businesses and government agencies.
Historical Context
Policymakers and analysts use this series to gauge the health of the broader economy and inform decisions around employment, wages, and productivity.
Key Facts
- Average weekly hours reached a high of 34.6 in February 2020 before declining during the COVID-19 pandemic.
- The series has shown a gradual upward trend over the past decade, reflecting a tighter labor market.
- Longer average weekly hours can indicate increased productivity and economic expansion.
FAQs
Q: What does this economic trend measure?
A: This series measures the average number of hours worked per week by private sector employees in the United States.
Q: Why is this trend relevant for users or analysts?
A: The average weekly hours data provides insights into labor market conditions, productivity, and overall economic activity.
Q: How is this data collected or calculated?
A: The data is collected through the monthly Current Employment Statistics (CES) survey.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this series to gauge the health of the broader economy and inform decisions around employment, wages, and productivity.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical one-month lag.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (SMU24000004200000001A), retrieved from FRED.