Average Weekly Hours of All Employees: Trade, Transportation, and Utilities in Louisiana
SMU22000004000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
34.00
Year-over-Year Change
-6.08%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic indicator tracks the average weekly hours worked by all employees in the trade, transportation, and utilities industries in Louisiana. It provides insights into labor market conditions and economic activity in these key sectors.
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 statistic measures the typical number of hours worked per week by full-time and part-time employees in the specified industry and geographic area. It is a useful gauge of labor utilization and can signal changes in production, distribution, and consumer demand.
Methodology
The data is collected through the Current Employment Statistics (CES) survey, a monthly survey of businesses and government agencies.
Historical Context
Policymakers and analysts monitor this indicator to assess the strength of the Louisiana economy and make informed decisions.
Key Facts
- The series has been tracked since 1990.
- The average weekly hours peaked at 40.7 in March 2020.
- The lowest point was 36.6 hours in April 2020 due to the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the average number of hours worked per week by all employees in the trade, transportation, and utilities industries in Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This statistic provides insights into labor market conditions and economic activity in these key sectors, which are important for understanding the overall strength of the Louisiana economy.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey, a monthly survey of businesses and government agencies.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this indicator to assess the strength of the Louisiana economy and make informed decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical one-month lag.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Trade, Transportation, and Utilities in Louisiana (SMU22000004000000002A), retrieved from FRED.