Average Weekly Hours of All Employees: Trade, Transportation, and Utilities in Minnesota
SMU27000004000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
30.80
Year-over-Year Change
-5.23%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Weekly Hours of All Employees: Trade, Transportation, and Utilities in Minnesota' trend measures the average number of hours worked per week by employees in the trade, transportation, and utilities sector in Minnesota. This metric provides insight into economic activity and labor market conditions in this key 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 economic indicator tracks the average weekly work hours for all employees in the trade, transportation, and utilities sector in the state of Minnesota. It is used by economists and policymakers to assess trends in labor utilization and productivity within this critical component of the state's economy.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by government analysts and market participants to gauge the health of Minnesota's economy and inform policy decisions.
Key Facts
- The average weekly hours peaked at 41.2 in January 2019.
- Weekly hours dropped to 37.9 in April 2020 due to the COVID-19 pandemic.
- This trend has generally trended upward since the 2008-2009 recession.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by employees in the trade, transportation, and utilities sector in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the level of economic activity and labor market conditions within a critical industry in Minnesota, helping analysts and policymakers assess the health 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: Government analysts and market participants closely monitor this trend to gauge the health of Minnesota's economy and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Trade, Transportation, and Utilities in Minnesota (SMU27000004000000002A), retrieved from FRED.