Average Weekly Hours of All Employees: Financial Activities in Louisiana
Annual
SMU22000005500000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.50
Year-over-Year Change
-2.60%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the total number of hours worked per year by employees in the U.S. nonfarm business sector. It is an important indicator of economic activity 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 represents the total annual hours worked by employees in the U.S. nonfarm business sector. It provides insight into labor productivity, worker utilization, and the overall health of the economy.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through employer surveys.
Historical Context
Policymakers and economists monitor this trend to understand labor market dynamics and inform economic policy decisions.
Key Facts
- The Annual trend reached a peak of over 243 billion hours in 2018.
- Hours worked declined significantly during the COVID-19 pandemic in 2020.
- Annual hours worked is a key component in calculating labor productivity.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the total number of hours worked per year by employees in the U.S. nonfarm business sector.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into labor productivity, worker utilization, and the overall health of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through employer surveys.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to understand labor market dynamics and inform economic policy decisions.
Q: Are there update delays or limitations?
A: The Annual data is published with a short delay and may be subject to revisions.
Related Trends
Per Capita Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Louisiana
LAPCEPCCLTH
Industrial Carbon Dioxide Emissions, Motor Gasoline for Louisiana
EMISSCO2VMGICBLAA
All Employees: Education and Health Services: Hospitals in Louisiana
SMU22000006562200001SA
Utilities Earnings in Louisiana
LAEUTI
All Employees: Professional and Business Services: Services to Buildings and Dwellings in Louisiana
SMU22000006056170001
Real Per Capita Personal Income for Louisiana
LARPIPC
Citation
U.S. Federal Reserve, Annual (SMU22000005500000002A), retrieved from FRED.