Average Weekly Hours of All Employees: Construction in Pennsylvania
SMU42000002000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38.80
Year-over-Year Change
1.84%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Hours of All Employees: Construction in Pennsylvania measures the average number of hours worked per week by construction workers in the state. This metric provides insight into the strength and productivity of the construction industry, which is a key driver of economic growth.
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 for all employees in the construction industry within the state of Pennsylvania. It is an important indicator of labor demand and can signal changes in construction activity and investment.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to assess the health of the construction sector and broader economic conditions.
Key Facts
- Pennsylvania is the 6th largest state economy in the U.S.
- The construction industry accounts for 4.5% of Pennsylvania's GDP.
- Construction wages make up over 5% of total state personal income.
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 Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the strength and productivity of the construction sector, which is a key driver of economic growth and investment in Pennsylvania.
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 metric to assess the health of the construction industry and broader economic conditions in Pennsylvania.
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 Pennsylvania (SMU42000002000000002A), retrieved from FRED.