Average Weekly Hours of Production Employees: Construction: Construction of Buildings in Missouri
Annual
SMU29000002023600007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.30
Year-over-Year Change
-4.11%
Date Range
1/1/2003 - 1/1/2024
Summary
The Annual trend measures the average number of hours worked per year by employees in the private sector in the United States. This metric is a key indicator of labor productivity and economic activity.
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 average annual hours worked per employee in the private nonfarm business sector. This data is used by economists and policymakers to analyze labor market conditions, productivity trends, and the overall health of the U.S. economy.
Methodology
The data is collected through surveys of private businesses and households by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual trend provides important context for interpreting macroeconomic policies and business decisions.
Key Facts
- The U.S. private sector averaged 1,978 hours worked per employee in 2022.
- Annual hours worked have increased by 1.5% since 2015.
- Productivity growth is closely tied to trends in annual hours worked.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average number of hours worked per year by employees in the private sector in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of labor productivity and economic activity, providing important context for interpreting macroeconomic policies and business decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private businesses and households by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Annual trend is used by economists and policymakers to analyze labor market conditions, productivity trends, and the overall health of the U.S. economy.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical delay of 1-2 months.
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Citation
U.S. Federal Reserve, Annual (SMU29000002023600007A), retrieved from FRED.