All Employees: Service-Providing in Pennsylvania
Annual, Not Seasonally Adjusted
SMU42000000700000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,297.40
Year-over-Year Change
8.20%
Date Range
1/1/1990 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' series measures the average weekly hours worked in private nonfarm establishments in the U.S. It provides insights into 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
This economic indicator tracks the average number of hours employees work per week in the private sector, excluding seasonal factors. It is a key statistic used by economists and policymakers to analyze labor market conditions and labor productivity.
Methodology
The data is collected through surveys of private establishments by the U.S. Bureau of Labor Statistics.
Historical Context
The average weekly hours metric informs economic policy decisions and business strategies.
Key Facts
- The average weekly hours in the U.S. private sector was 34.4 hours in 2022.
- This metric reached a low of 33.8 hours during the COVID-19 pandemic in 2020.
- Average weekly hours have remained relatively stable over the past decade.
FAQs
Q: What does this economic trend measure?
A: The 'Annual, Not Seasonally Adjusted' series measures the average number of hours worked per week by employees in private, nonfarm establishments in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding labor market conditions, productivity, and the overall state of the economy. It informs economic policy decisions and business strategies.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private establishments conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The average weekly hours statistic is used by policymakers, economists, and businesses to analyze labor market trends and make informed decisions about economic policies and strategies.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical delay of one month. There are no major limitations, as the series provides a comprehensive view of average weekly hours in the U.S. private sector.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (SMU42000000700000001A), retrieved from FRED.