Average Weekly Hours of All Employees: Construction in Florida
SMU12000002000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40.00
Year-over-Year Change
0.00%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Hours of All Employees: Construction in Florida measures the average number of hours worked per week by construction employees in the state. This metric provides insight into the health and productivity of the construction industry, which is a key driver of economic growth.
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 tracks the average weekly hours for all employees in the construction sector across Florida. It is an important economic indicator used by policymakers, analysts, and businesses to assess labor market conditions and forecast activity in the construction industry.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in average weekly hours can inform discussions around employment, output, and investment in the construction sector.
Key Facts
- Florida is one of the largest construction markets in the U.S.
- Average weekly hours peaked at 41.4 in January 2022.
- Construction employment accounts for over 7% of Florida's workforce.
FAQs
Q: What does this economic trend measure?
A: The Average Weekly Hours of All Employees: Construction in Florida measures the average number of hours worked per week by construction employees in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the health and productivity of the construction industry, which is a key driver of economic growth in Florida.
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: Trends in average weekly hours can inform discussions around employment, output, and investment in the construction sector, which is important for policymakers, analysts, and businesses.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical release lag of 1-2 months.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Construction in Florida (SMU12000002000000002A), retrieved from FRED.