Average Weekly Hours of All Employees: Financial Activities in Ohio
SMU39000005500000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.30
Year-over-Year Change
0.54%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Hours of All Employees: Financial Activities in Ohio measures the average number of hours worked per week by employees in the financial activities sector in Ohio. This metric provides insight into the labor market and economic activity in the state's finance 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 hours worked by all employees in Ohio's financial activities sector, which includes industries like banking, insurance, and real estate. It is used by economists and policymakers to analyze trends in labor utilization and productivity within the state's finance industry.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This metric helps inform decisions around economic and workforce policies targeting the finance sector in Ohio.
Key Facts
- Ohio's finance industry accounts for over 6% of the state's GDP.
- Average weekly hours in Ohio's financial sector have remained relatively stable over the past decade.
- Trends in this metric can signal changes in labor demand and output in Ohio's finance industry.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the average number of hours worked per week by all employees in Ohio's financial activities sector, including industries like banking, insurance, and real estate.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor utilization and productivity trends within Ohio's finance industry, which is an important component of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in average weekly hours in Ohio's finance sector can inform decisions around economic and workforce policies targeting the state's finance industry.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical delay of 1-2 months.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Financial Activities in Ohio (SMU39000005500000002A), retrieved from FRED.