Average Weekly Hours of All Employees: Professional and Business Services in Utah
SMU49000006000000002 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36.80
Year-over-Year Change
1.94%
Date Range
1/1/2007 - 7/1/2025
Summary
The 'Average Weekly Hours of All Employees: Professional and Business Services in Utah' measures the average number of hours worked per week by employees in the professional and business services sector in Utah. This metric provides insights into labor market trends and productivity in a key part of the state's economy.
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 economic indicator tracks the average weekly hours worked by all employees, both full-time and part-time, in the professional and business services industry within Utah. It serves as a barometer of labor demand, work intensity, and productivity in this important services sector.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to assess economic conditions and labor market dynamics in Utah's professional services industry.
Key Facts
- The average weekly hours in Utah's professional and business services sector was 36.7 in January 2023.
- This metric has remained relatively stable over the past year, fluctuating within a narrow range.
- Professional and business services account for over 15% of total employment in Utah.
FAQs
Q: What does this economic trend measure?
A: This metric measures the average number of hours worked per week by employees in the professional and business services sector in Utah.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into labor market conditions and productivity trends in a key services industry within the Utah economy.
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 analysts use this metric to assess economic conditions and labor market dynamics in Utah's professional services industry.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Professional and Business Services in Utah (SMU49000006000000002), retrieved from FRED.