Average Weekly Hours of All Employees: Private Service Providing in Utah
SMU49000000800000002 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.30
Year-over-Year Change
2.87%
Date Range
1/1/2007 - 7/1/2025
Summary
This economic trend measures the average weekly hours worked by all employees in the private service-providing sector in the state of Utah. It is a key indicator of labor market conditions and economic activity in the state.
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: Private Service Providing in Utah tracks the average number of hours worked per week by employees in the private service-providing industries, which include sectors like trade, transportation, utilities, information, financial activities, professional and business services, education, and healthcare.
Methodology
The data is collected through a monthly survey of private sector employers by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is used by economists and policymakers to gauge the strength of the Utah economy and inform decisions related to economic and workforce development.
Key Facts
- Utah's private service sector accounts for over 70% of the state's total employment.
- The average weekly hours in Utah's private service sector have remained relatively stable over the past decade.
- Trends in this metric can signal changes in demand for labor and overall economic conditions in Utah.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by employees in the private service-providing industries in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of labor market conditions and economic activity in Utah, and is used by economists and policymakers to gauge the strength of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of private sector employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This metric is used by economists and policymakers to inform decisions related to economic and workforce development in Utah.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of one to two months, and may be subject to revisions.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Private Service Providing in Utah (SMU49000000800000002), retrieved from FRED.