Average Annual Hours Worked by Persons Engaged for Finland
AVHWPEFIA065NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,590.69
Year-over-Year Change
-4.06%
Date Range
1/1/1950 - 1/1/2019
Summary
The 'Average Annual Hours Worked by Persons Engaged for Finland' metric measures the average number of hours worked per year by the total employed population in Finland. This data provides valuable insights into labor force utilization and productivity trends in the Finnish economy.
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 annual hours worked by all persons engaged in productive activities in Finland, including both employees and self-employed individuals. It is a key measure of labor input that economists use to analyze workforce efficiency and the intensity of economic activity.
Methodology
The data is collected through labor force surveys and household surveys conducted by Finland's national statistical agency.
Historical Context
Policy makers and analysts monitor this trend to assess the health of the Finnish labor market and overall economic performance.
Key Facts
- Finland has one of the highest average annual work hours in Europe.
- The average Finnish worker logged 1,634 hours in 2021.
- Finland's average work hours have declined by over 100 hours since the 1990s.
FAQs
Q: What does this economic trend measure?
A: The 'Average Annual Hours Worked by Persons Engaged for Finland' metric tracks the mean number of hours worked per year by the total employed population in Finland, including both employees and self-employed individuals.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insights into labor force utilization and productivity trends in the Finnish economy, which is crucial information for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through labor force surveys and household surveys conducted by Finland's national statistical agency.
Q: How is this trend used in economic policy?
A: Policy makers and analysts monitor this trend to assess the health of the Finnish labor market and overall economic performance, which informs decisions on employment, productivity, and macroeconomic policies.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Average Annual Hours Worked by Persons Engaged for Finland (AVHWPEFIA065NRUG), retrieved from FRED.