Average Weekly Hours of All Employees: Financial Activities in Tennessee
SMU47000005500000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.50
Year-over-Year Change
-0.27%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Hours of All Employees: Financial Activities in Tennessee measures the average number of hours worked per week by employees in the financial services sector in Tennessee. This metric provides insight into the labor market and economic activity in the state's financial 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 worked by all employees in the financial activities sector within the state of Tennessee. It is a key indicator of labor market conditions and productivity in the state's financial services industry, which is an important component of the overall state economy.
Methodology
The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to assess the health and trends within Tennessee's financial services sector.
Key Facts
- The data is reported on a monthly basis.
- Tennessee's financial services sector accounts for over 6% of the state's GDP.
- Average weekly hours reached a high of 38.7 in late 2019 before declining during the COVID-19 pandemic.
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 Tennessee.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the labor market and economic conditions within Tennessee's important financial services industry.
Q: How is this data collected or calculated?
A: The data is collected through business 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 and trends in Tennessee's financial sector, which is a key component of the state's economy.
Q: Are there update delays or limitations?
A: The data is reported on a monthly basis with typical lags of 1-2 months.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Financial Activities in Tennessee (SMU47000005500000002A), retrieved from FRED.