Average Weekly Hours of All Employees: Financial Activities in South Carolina
SMU45000005500000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.10
Year-over-Year Change
0.82%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Hours of All Employees: Financial Activities in South Carolina measures the average number of hours worked per week by employees in the financial sector in the state. This metric provides insights into labor market conditions and productivity in the 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 series tracks the average weekly hours of all employees, including full-time and part-time workers, in the financial activities sector in South Carolina. It is a key indicator of labor market trends and can signal changes in industry demand, overtime, and productivity.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists use this trend to assess the health and outlook of South Carolina's financial services industry.
Key Facts
- South Carolina is a major center for banking and insurance in the Southeast.
- The financial activities sector accounts for over 5% of the state's GDP.
- Average weekly hours in this sector have remained relatively stable over the past decade.
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 activities sector in the state of South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor market conditions and productivity in South Carolina's finance industry, which is an important driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys 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 assess the health and outlook of South Carolina's financial services industry, which can inform decisions around economic development, workforce training, and regulatory policy.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Financial Activities in South Carolina (SMU45000005500000002A), retrieved from FRED.