Average Weekly Hours of All Employees: Total Private in Maine
SMU23000000500000002 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
33.10
Year-over-Year Change
-1.19%
Date Range
1/1/2007 - 6/1/2025
Summary
The 'Average Weekly Hours of All Employees: Total Private in Maine' trend measures the average number of hours worked per week by private sector employees in the state of Maine. This metric is a key 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
This series tracks the average number of hours worked per week by all private sector employees in Maine. It is a useful barometer of the state's economic health, as changes in average weekly hours can signal shifts in labor demand, overtime, and overall business conditions.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists monitor this trend to assess the strength of Maine's private sector labor market and make informed decisions about economic and workforce policies.
Key Facts
- Maine's average weekly private sector hours peaked at 35.9 in 2000.
- The series reached a low of 33.8 hours during the Great Recession in 2009.
- As of the latest data, average weekly private hours in Maine are 34.5.
FAQs
Q: What does this economic trend measure?
A: The 'Average Weekly Hours of All Employees: Total Private in Maine' trend measures the average number of hours worked per week by private sector employees in the state of Maine.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of economic activity and labor market conditions in Maine, as changes in average weekly hours can signal shifts in labor demand, overtime, and overall business conditions.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to assess the strength of Maine's private sector labor market and make informed decisions about economic and workforce policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical release lag of 1-2 months.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Total Private in Maine (SMU23000000500000002), retrieved from FRED.