Average Annual Hours Worked by Persons Engaged for Sweden
AVHWPESEA065NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,605.28
Year-over-Year Change
-0.72%
Date Range
1/1/1950 - 1/1/2019
Summary
This economic indicator tracks the average annual hours worked by persons engaged in Sweden. It provides insights into labor productivity and work-life balance trends in the Swedish 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 metric measures the total number of hours worked per year divided by the average number of persons in employment. It offers a comprehensive view of labor utilization and work intensity in Sweden.
Methodology
The data is collected through household and labor force surveys conducted by Statistics Sweden.
Historical Context
This trend is closely monitored by policymakers and economists to assess labor market conditions and inform economic and social policies.
Key Facts
- Sweden has one of the lowest average annual work hours among OECD countries.
- Average annual hours worked in Sweden have declined by over 10% since the 1990s.
- High labor productivity in Sweden offsets the relatively low average work hours.
FAQs
Q: What does this economic trend measure?
A: The average annual hours worked by persons engaged metric tracks the total number of hours worked per year divided by the average number of persons in employment in Sweden.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into labor productivity, work-life balance, and overall labor market conditions in the Swedish economy, which are important for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected through household and labor force surveys conducted by Statistics Sweden.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this trend to assess labor market conditions and inform economic and social policies in Sweden.
Q: Are there update delays or limitations?
A: The data is published annually with a slight delay, and may be subject to revisions based on updated survey information.
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Citation
U.S. Federal Reserve, Average Annual Hours Worked by Persons Engaged for Sweden (AVHWPESEA065NRUG), retrieved from FRED.