Average Weekly Hours of All Employees: Trade, Transportation, and Utilities in Utah
SMU49000004000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31.70
Year-over-Year Change
-5.93%
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 Utah. It provides insights into labor market conditions and economic activity in this key 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
The Average Weekly Hours of All Employees: Trade, Transportation, and Utilities in Utah metric tracks the average number of hours worked per week by employees in this sector. It is a widely used indicator of economic conditions and can signal changes in productivity, demand, and employment trends.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by policymakers, economists, and industry analysts to assess the health of the broader economy and inform decision-making.
Key Facts
- The average weekly hours in this sector peaked at 41.2 in January 2019.
- Weekly hours declined during the COVID-19 pandemic but have since recovered.
- This trend is a leading indicator of 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 all employees in the trade, transportation, and utilities sector in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor market conditions and economic activity in a key industry, making it an important indicator for policymakers, economists, and industry analysts.
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: This trend is closely monitored by policymakers and economists to assess the health of the broader Utah economy and inform decision-making.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical delay of one to two months.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Trade, Transportation, and Utilities in Utah (SMU49000004000000002A), retrieved from FRED.