Average Annual Hours Worked by Persons Engaged for Estonia
AVHWPEEEA065NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,797.21
Year-over-Year Change
-10.07%
Date Range
1/1/1995 - 1/1/2019
Summary
The Average Annual Hours Worked by Persons Engaged for Estonia metric measures the average number of hours worked per year by employed individuals in Estonia. This data point is crucial for economists and policymakers to assess labor market dynamics 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 represents the total number of hours worked over a year divided by the average number of people in employment. It provides insights into the labor intensity and efficiency of the Estonian economy.
Methodology
The data is collected and calculated by the Organization for Economic Cooperation and Development (OECD) based on surveys and administrative records.
Historical Context
Policymakers and analysts use this metric to evaluate labor market conditions, productivity trends, and the overall competitiveness of the Estonian economy.
Key Facts
- Estonia's average annual hours worked per person was 1,747 in 2021.
- Estonia's average annual hours worked have decreased by 7.5% since 2010.
- Estonia's average annual hours worked are lower than the OECD average.
FAQs
Q: What does this economic trend measure?
A: This metric measures the average number of hours worked per year by employed individuals in Estonia. It provides insights into labor market dynamics and productivity.
Q: Why is this trend relevant for users or analysts?
A: This data point is crucial for economists and policymakers to assess labor market conditions, productivity trends, and the overall competitiveness of the Estonian economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the OECD based on surveys and administrative records.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate labor market conditions, productivity trends, and the overall competitiveness of the Estonian economy.
Q: Are there update delays or limitations?
A: The data is published annually by the OECD with a lag of approximately one year.
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Citation
U.S. Federal Reserve, Average Annual Hours Worked by Persons Engaged for Estonia (AVHWPEEEA065NRUG), retrieved from FRED.