Average Weekly Hours of All Employees: Professional and Business Services in Idaho
SMU16000006000000002 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36.30
Year-over-Year Change
-0.82%
Date Range
1/1/2007 - 7/1/2025
Summary
This economic trend measures the average weekly hours worked by all employees in the professional and business services sector in Idaho. It provides insight into labor market conditions and productivity in this important industry.
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: Professional and Business Services in Idaho is a key economic indicator that tracks the average number of hours worked per week by all employees in the professional and business services sector within the state. This metric is used by economists and policymakers to assess labor market trends and labor productivity in this industry.
Methodology
The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by analysts to understand the health and outlook of Idaho's professional and business services sector.
Key Facts
- This data series has been tracked since 2003.
- The professional and business services sector accounts for over 15% of Idaho's total employment.
- Average weekly hours have remained relatively stable in this sector over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by all employees in the professional and business services sector in the state of Idaho.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into labor market conditions and productivity within an important industry in Idaho's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this trend to assess the health and outlook of Idaho's professional and business services sector, which is a key driver of the state's economic growth.
Q: Are there update delays or limitations?
A: This data is published on a monthly basis with minimal delays, providing timely insights into labor market conditions.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Professional and Business Services in Idaho (SMU16000006000000002), retrieved from FRED.