Average Weekly Hours of All Employees: Construction in Maine
SMU23000002000000002 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
41.10
Year-over-Year Change
5.12%
Date Range
1/1/2007 - 7/1/2025
Summary
The Average Weekly Hours of All Employees: Construction in Maine measures the average number of hours worked per week by construction workers in the state. This indicator provides insight into the labor market and economic conditions in Maine's construction industry.
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 weekly hours of all employees in the construction sector in Maine. It is used by economists and policymakers to assess labor market trends and gauge the strength of the construction industry within the state's economy.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in average weekly hours can inform decisions around economic and workforce policies.
Key Facts
- Maine's construction industry accounts for over 5% of the state's GDP.
- Average weekly hours peaked at 42.2 in 2019 before declining during the COVID-19 pandemic.
- Construction is a major driver of economic activity in many Maine communities.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by all employees in the construction industry in the state of Maine.
Q: Why is this trend relevant for users or analysts?
A: Trends in average weekly hours for construction workers provide insights into the strength and labor market conditions within Maine's construction industry, which is an important part of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to inform decisions around economic and workforce policies, as trends in average weekly hours can indicate the overall health of the construction industry and labor market.
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: Construction in Maine (SMU23000002000000002), retrieved from FRED.