Current Average Employee Workweek; Percent of Respondents Reporting Increases for Federal Reserve District 3: Philadelphia
AWBNINC156MSFRBPHI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17.70
Year-over-Year Change
-7.33%
Date Range
3/1/2011 - 7/1/2025
Summary
This economic indicator measures the percentage of Philadelphia Federal Reserve District businesses reporting increases in the average employee workweek. It provides insights into labor market conditions and production capacity.
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 Current Average Employee Workweek indicator tracks the share of firms in the Philadelphia region that report increases in the average number of hours worked per employee. This metric offers a timely gauge of changes in labor utilization and production levels.
Methodology
The data is collected through the Philadelphia Fed's monthly Business Outlook Survey of regional manufacturers.
Historical Context
This indicator is used by economists and policymakers to assess labor market tightness and potential inflationary pressures.
Key Facts
- The indicator reflects the share of firms reporting increases, not the actual change in workweek length.
- A higher share of firms reporting increases may signal tight labor markets and potential wage pressures.
- The data is released monthly as part of the Philadelphia Fed's Business Outlook Survey.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the percentage of businesses in the Philadelphia Federal Reserve District that report increases in the average employee workweek.
Q: Why is this trend relevant for users or analysts?
A: This metric provides timely insights into labor market conditions and production capacity, which are important for assessing inflationary pressures and the overall state of the regional economy.
Q: How is this data collected or calculated?
A: The data is collected through the monthly Business Outlook Survey conducted by the Philadelphia Federal Reserve.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this indicator to gauge labor market tightness and potential inflationary pressures, which can inform monetary policy decisions.
Q: Are there update delays or limitations?
A: The data is released monthly with no significant publication delays, providing a timely view of changes in the Philadelphia region's labor utilization.
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Citation
U.S. Federal Reserve, Current Average Employee Workweek; Percent of Respondents Reporting Increases for Federal Reserve District 3: Philadelphia (AWBNINC156MSFRBPHI), retrieved from FRED.