Average Weekly Hours of All Employees: Other Services in Pennsylvania
SMU42000008000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29.90
Year-over-Year Change
2.40%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Weekly Hours of All Employees: Other Services in Pennsylvania' measures the average number of hours worked per week by employees in the 'other services' industry in the state of Pennsylvania. This metric provides insights into labor market conditions and productivity trends.
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 'Other Services' industry includes a diverse range of businesses such as repair and maintenance, personal and laundry services, and religious, grantmaking, civic, and professional organizations. The average weekly hours data offers a window into the economic health and activity levels of this important service sector within Pennsylvania.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this indicator to evaluate economic performance and make informed decisions.
Key Facts
- Pennsylvania's 'other services' industry accounts for over 300,000 jobs.
- Average weekly hours peaked at 32.4 in January 2020 before declining during the pandemic.
- The 'other services' sector represents approximately 5% of Pennsylvania's total nonfarm 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 'other services' industry in Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into labor market conditions and productivity trends within an important service sector of the Pennsylvania 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: Policymakers and analysts use this indicator to evaluate economic performance and make informed decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with typical lags of 1-2 months.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Other Services in Pennsylvania (SMU42000008000000002A), retrieved from FRED.