Average Annual Hours Worked by Persons Engaged for Canada
AVHWPECAA065NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,689.28
Year-over-Year Change
-3.08%
Date Range
1/1/1950 - 1/1/2019
Summary
This economic indicator tracks the average annual hours worked by persons engaged in the Canadian economy. It is a key measure of labor market productivity and a useful input for economic analysis and policymaking.
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 Annual Hours Worked by Persons Engaged for Canada represents the total number of hours worked divided by the average number of persons engaged in production. This metric provides insight into labor market dynamics and is used by economists to assess workforce utilization and productivity trends.
Methodology
The data is calculated by Statistics Canada based on labor force surveys and production data.
Historical Context
Policymakers and analysts monitor this trend to understand labor market conditions and their implications for economic growth and employment.
Key Facts
- Canada's average annual hours worked was 1,700 in 2021.
- Hours worked have declined over the past decade as automation and flexible work arrangements have increased.
- Declining hours worked can signal both positive (efficiency gains) and negative (underemployment) economic trends.
FAQs
Q: What does this economic trend measure?
A: The Average Annual Hours Worked by Persons Engaged for Canada tracks the total number of hours worked divided by the average number of persons engaged in production in the Canadian economy.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor market dynamics and is used by economists to assess workforce utilization and productivity trends, which have important implications for economic growth and policymaking.
Q: How is this data collected or calculated?
A: The data is calculated by Statistics Canada based on labor force surveys and production data.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to understand labor market conditions and their implications for economic growth and employment.
Q: Are there update delays or limitations?
A: The data is subject to the collection and publication schedules of Statistics Canada, which may result in periodic update delays.
Related Trends
Citation
U.S. Federal Reserve, Average Annual Hours Worked by Persons Engaged for Canada (AVHWPECAA065NRUG), retrieved from FRED.