Average Weekly Hours of All Employees: Private Service Providing in Florida
SMU12000000800000002 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
33.80
Year-over-Year Change
0.60%
Date Range
1/1/2007 - 6/1/2025
Summary
This economic trend measures the average weekly hours worked by private sector service employees in Florida. It provides insights into labor market conditions and productivity in the state's service industries.
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 Weekly Hours of All Employees: Private Service Providing in Florida metric tracks the average number of hours worked per week by private sector service workers in the state. It is a key indicator of labor utilization and economic activity in Florida's service-oriented economy.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is widely used by economists, policymakers, and businesses to assess Florida's economic performance and labor market dynamics.
Key Facts
- Florida's private service sector accounts for over 80% of the state's employment.
- Average weekly hours in Florida's private service industries have remained stable around 34 hours since 2019.
- Tracking this metric helps policymakers and businesses monitor workforce utilization and productivity trends.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by private sector service employees in the state of Florida.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor market conditions and productivity in Florida's service-oriented economy, which is a key driver of the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and businesses use this trend to assess Florida's economic activity and labor market dynamics, which informs decision-making and policy development.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical one-month lag between the reference period and the publication date.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Private Service Providing in Florida (SMU12000000800000002), retrieved from FRED.