Average Annual Hours Worked by Persons Engaged for Singapore
AVHWPESGA065NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,330.17
Year-over-Year Change
-6.23%
Date Range
1/1/1960 - 1/1/2019
Summary
The 'Average Annual Hours Worked by Persons Engaged for Singapore' trend measures the average number of hours worked per year by workers in Singapore. This metric is important for analyzing labor productivity and employment trends in the Singaporean 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 series represents the average number of hours worked annually by individuals engaged in economic activity in Singapore. It is a key indicator of labor market conditions and worker output that economists and policymakers use to assess the health and competitiveness of the Singaporean economy.
Methodology
The data is collected through surveys of businesses and households by the Singapore Department of Statistics.
Historical Context
Trends in average annual work hours can inform economic and labor market policies in Singapore.
Key Facts
- Singapore has one of the longest average work weeks globally.
- Average annual work hours in Singapore have declined over the past decade.
- Productivity gains have outpaced growth in average work hours in Singapore.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per year by individuals engaged in economic activity in Singapore.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for analyzing labor productivity, employment, and competitiveness in the Singaporean economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and households by the Singapore Department of Statistics.
Q: How is this trend used in economic policy?
A: Trends in average annual work hours can inform economic and labor market policies in Singapore.
Q: Are there update delays or limitations?
A: The data is published with a short delay and may be subject to revisions by the collecting agency.
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Citation
U.S. Federal Reserve, Average Annual Hours Worked by Persons Engaged for Singapore (AVHWPESGA065NRUG), retrieved from FRED.