All Employees: Financial Activities: Finance and Insurance in Connecticut
Monthly, Seasonally Adjusted
SMS09000005552000001 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
99.90
Year-over-Year Change
1.73%
Date Range
1/1/1990 - 7/1/2025
Summary
The Monthly Seasonally Adjusted trend measures the average number of hours worked per week by production and nonsupervisory employees in the service-providing industries in the United States. This metric is a key indicator of labor market conditions and economic activity.
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 Monthly Seasonally Adjusted series tracks the average weekly hours for service-sector workers, providing insight into employment levels, productivity, and consumer demand. Economists and policymakers analyze this data to assess the health of the broader U.S. economy.
Methodology
The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This economic indicator is widely used to inform monetary and fiscal policy decisions.
Key Facts
- The average weekly hours for service-sector workers in the U.S. was 34.2 in January 2023.
- Average weekly hours have remained relatively stable over the past year, indicating steady labor market conditions.
- The service sector accounts for over 70% of U.S. economic activity.
FAQs
Q: What does this economic trend measure?
A: The Monthly Seasonally Adjusted trend measures the average number of hours worked per week by production and nonsupervisory employees in the service-providing industries in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into employment levels, productivity, and consumer demand, making it a key indicator of the overall health of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This economic indicator is widely used to inform monetary and fiscal policy decisions by policymakers and central banks.
Q: Are there update delays or limitations?
A: The data is released monthly with a short delay, providing timely information on the service sector labor market.
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Citation
U.S. Federal Reserve, Monthly, Seasonally Adjusted (SMS09000005552000001), retrieved from FRED.