Average Weekly Hours of All Employees: Trade, Transportation, and Utilities in Rhode Island
SMU44000004000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29.70
Year-over-Year Change
-13.41%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic trend measures the average weekly hours worked by all employees in the trade, transportation, and utilities sector in Rhode Island. It provides insights into labor market conditions and productivity in this important economic segment.
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 Average Weekly Hours of All Employees: Trade, Transportation, and Utilities in Rhode Island metric tracks the average number of hours worked per week by workers in this broad industry group. It is a key labor market indicator used by economists and policymakers to assess employment, output, and economic conditions in the state.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is widely used to monitor economic activity and labor market trends in Rhode Island's trade, transportation, and utilities industries.
Key Facts
- The series has been tracked since 2003.
- Rhode Island's trade, transportation, and utilities sector accounts for over 20% of total state employment.
- Average weekly hours in this sector provide insight into productivity and utilization of the workforce.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by all employees in Rhode Island's trade, transportation, and utilities industries.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of labor market conditions and productivity in an important economic sector for Rhode Island.
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 economists use this trend to monitor employment, output, and overall economic activity in Rhode Island's trade, transportation, and utilities industries.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Trade, Transportation, and Utilities in Rhode Island (SMU44000004000000002A), retrieved from FRED.