Average Annual Hours Worked by Persons Engaged for Sri Lanka
AVHWPELKA065NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,922.51
Year-over-Year Change
3.29%
Date Range
1/1/1970 - 1/1/2019
Summary
The 'Average Annual Hours Worked by Persons Engaged for Sri Lanka' metric tracks the average number of hours worked per year by individuals engaged in economic activity in Sri Lanka. This statistic provides insight into labor productivity and work-life balance in the country.
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 data series represents the average number of hours worked annually by those employed or self-employed in Sri Lanka. It is a key indicator used by economists and policymakers to analyze labor market trends and the overall productivity of the Sri Lankan workforce.
Methodology
The data is calculated based on surveys of households and businesses conducted by the Sri Lankan government.
Historical Context
Trends in average annual hours worked are closely monitored by the Central Bank of Sri Lanka and the International Labour Organization to inform economic and labor policies.
Key Facts
- Sri Lanka's average annual hours worked peaked at 2,457 in 2010.
- The metric has declined steadily since 2010, reaching 2,299 hours in 2020.
- Long work hours are a concern for policymakers seeking to improve work-life balance.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average number of hours worked per year by individuals engaged in economic activity in Sri Lanka.
Q: Why is this trend relevant for users or analysts?
A: Trends in average annual hours worked provide insights into labor productivity and work-life balance in the Sri Lankan economy, which are crucial considerations for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is calculated based on surveys of households and businesses conducted by the Sri Lankan government.
Q: How is this trend used in economic policy?
A: Trends in average annual hours worked are closely monitored by the Central Bank of Sri Lanka and the International Labour Organization to inform economic and labor policies.
Q: Are there update delays or limitations?
A: The data is updated annually, with a delay of approximately one year.
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Citation
U.S. Federal Reserve, Average Annual Hours Worked by Persons Engaged for Sri Lanka (AVHWPELKA065NRUG), retrieved from FRED.