Average Annual Hours Worked by Persons Engaged for Ireland
AVHWPEIEA065NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,771.98
Year-over-Year Change
-4.98%
Date Range
1/1/1950 - 1/1/2019
Summary
This economic trend measures the average annual hours worked by persons engaged in Ireland. It is a key indicator of labor market activity and productivity in the Irish 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
The average annual hours worked by persons engaged is a widely-used metric for international labor comparisons. It provides insights into work patterns, work-life balance, and overall economic efficiency.
Methodology
The data is collected through surveys of businesses and households by the Irish Central Statistics Office.
Historical Context
Policymakers and economists analyze this trend to assess the health of the Irish labor market and make informed decisions.
Key Facts
- Ireland's average annual hours worked was 1,745 in 2021.
- Hours worked per person have declined by 4.3% since 2010.
- The Irish work week is longer than the OECD average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per year by persons engaged in the Irish economy, including both employees and self-employed individuals.
Q: Why is this trend relevant for users or analysts?
A: The average annual hours worked is a key indicator of labor market productivity and work-life balance in Ireland. It provides valuable insights for policymakers, businesses, and economists.
Q: How is this data collected or calculated?
A: The data is collected by the Irish Central Statistics Office through surveys of businesses and households.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this trend to assess the health of the Irish labor market and make informed decisions about employment, productivity, and work-life balance policies.
Q: Are there update delays or limitations?
A: The data is updated annually, with a typical 6-month delay. The metric may not capture all informal or unreported work hours.
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Citation
U.S. Federal Reserve, Average Annual Hours Worked by Persons Engaged for Ireland (AVHWPEIEA065NRUG), retrieved from FRED.