Average Weekly Hours of All Employees: Professional and Business Services in Arizona
Annual
SMU04000006000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36.50
Year-over-Year Change
0.55%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual series measures the average number of hours worked per week by all production and nonsupervisory employees in the private sector. 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 Annual series provides a comprehensive overview of average weekly hours worked in the U.S. private sector. It is a widely-watched statistic used by economists, policymakers, and market analysts to assess labor market trends and gauge overall economic performance.
Methodology
The data is collected through monthly surveys of private-sector employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and central banks monitor this indicator to help inform decisions on monetary and fiscal policy.
Key Facts
- The average private sector worker put in 34.4 hours per week in 2022.
- Weekly hours have remained relatively stable over the past decade.
- Manufacturing workers averaged 40.3 hours per week in 2022.
FAQs
Q: What does this economic trend measure?
A: The Annual series measures the average number of hours worked per week by all production and nonsupervisory employees in the private sector of the U.S. economy.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of labor market conditions and overall economic activity, providing insights into productivity, work patterns, and the strength of the private sector.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of private-sector employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and central banks monitor this indicator to help inform decisions on monetary and fiscal policy, as it reflects the health of the labor market and broader economic conditions.
Q: Are there update delays or limitations?
A: The Annual series is released on a monthly basis with a typical one-month lag, providing timely data on private sector working hours.
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Citation
U.S. Federal Reserve, Annual (SMU04000006000000002A), retrieved from FRED.