Average Weekly Hours of All Employees: Professional and Business Services in Louisiana
SMU22000006000000002 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
39.20
Year-over-Year Change
2.08%
Date Range
1/1/2007 - 6/1/2025
Summary
The 'Average Weekly Hours of All Employees: Professional and Business Services in Louisiana' metric tracks the average number of hours worked per week by employees in the professional and business services sector in Louisiana.
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 economic indicator provides insight into the productivity and labor utilization within the professional and business services industry in Louisiana. It is a valuable data point for economists, policymakers, and businesses to assess economic trends and labor market conditions.
Methodology
The data is collected through monthly surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to monitor the health of the Louisiana services economy and make informed decisions.
Key Facts
- The average weekly hours in Louisiana's professional and business services sector was 36.6 in January 2023.
- This metric has shown steady growth since the COVID-19 pandemic, indicating a recovery in the service sector.
- The professional and business services industry accounts for a significant portion of Louisiana's economic output.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average number of hours worked per week by employees in the professional and business services sector in Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the productivity and labor utilization within the professional and business services industry in Louisiana, which is valuable for economists, policymakers, and businesses to assess economic trends and labor market conditions.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to monitor the health of the Louisiana services economy and make informed decisions.
Q: Are there update delays or limitations?
A: The data is released monthly, with a typical delay of around one month.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Professional and Business Services in Louisiana (SMU22000006000000002), retrieved from FRED.