Average Weekly Hours of All Employees: Professional and Business Services in Idaho
Annual
SMU16000006000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36.50
Year-over-Year Change
3.99%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the average annual growth rate of state-level employment data, a key indicator of economic performance and labor market conditions.
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 trend tracks the year-over-year change in total nonfarm employment for U.S. states. This metric is widely used by economists and policymakers to assess regional economic health and identify areas of strength or weakness in the job market.
Methodology
The data is collected through surveys of employers and calculated as the percent change from the prior year.
Historical Context
State-level employment trends are closely monitored by government agencies, central banks, and industry analysts to inform economic policies and investment decisions.
Key Facts
- Annual employment growth averaged 1.5% nationally in 2022.
- The Mountain West region saw the fastest annual job gains in 2022.
- Annual state employment data is released with a 1-month lag.
FAQs
Q: What does this economic trend measure?
A: The Annual trend tracks the year-over-year percent change in total nonfarm employment for U.S. states, providing a gauge of regional economic performance and labor market conditions.
Q: Why is this trend relevant for users or analysts?
A: State-level employment data is a crucial input for economists, policymakers, and businesses to assess regional economic health, identify growth opportunities, and inform investment and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers and calculated as the percent change in total nonfarm employment from the prior year.
Q: How is this trend used in economic policy?
A: Policymakers and central banks closely monitor state employment trends to inform decisions on fiscal, monetary, and labor market policies aimed at promoting economic growth and stability.
Q: Are there update delays or limitations?
A: The Annual state employment data is released with a 1-month lag, and may be subject to revisions as more complete information becomes available.
Related Trends
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IDFIRE
Proprietors' Nonfarm Income in Idaho
IDONON
Implicit Regional Price Deflator: Metropolitan Portion for Idaho
IDMPIRPD
Chain-Type Quantity Index for Real GDP: Waste Management and Remediation Services (562) in Idaho
IDWASTEQGSP
State Government Tax Collections, Corporations in General Licenses in Idaho
IDCORPLICTAX
Transportation Carbon Dioxide Emissions, All Fuels for Idaho
EMISSCO2TOTVTCTOIDA
Citation
U.S. Federal Reserve, Annual (SMU16000006000000002A), retrieved from FRED.