Average Weekly Hours of All Employees: Financial Activities in North Dakota
SMU38000005500000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38.90
Year-over-Year Change
5.42%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Weekly Hours of All Employees: Financial Activities in North Dakota' measures the average number of hours worked per week by employees in the financial services industry within the state of North Dakota. This economic indicator provides insight into the productivity and labor market conditions in the financial sector of the state.
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 data series tracks the average weekly hours worked by all employees in the financial activities sector across North Dakota. It serves as a key metric for evaluating trends in labor utilization, workforce productivity, and overall economic activity within the state's financial industry.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this trend to assess the health and outlook of North Dakota's financial services industry.
Key Facts
- North Dakota's financial sector employs over 20,000 workers.
- The average workweek in North Dakota's financial industry is over 37 hours.
- Financial activities account for approximately 5% of North Dakota's total employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by employees in the financial services industry within the state of North Dakota.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the productivity and labor market conditions in the financial sector of North Dakota, 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 analysts use this trend to assess the health and outlook of North Dakota's financial services industry, which can inform economic development strategies and workforce planning.
Q: Are there update delays or limitations?
A: This data is published monthly by the U.S. Federal Reserve, with a typical release lag of approximately 2 months.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Financial Activities in North Dakota (SMU38000005500000002A), retrieved from FRED.