Average Weekly Hours of Production Employees: Trade, Transportation, and Utilities in Washington
SMU53000004000000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
33.10
Year-over-Year Change
-2.07%
Date Range
1/1/2001 - 1/1/2024
Summary
The 'Average Weekly Hours of Production Employees: Trade, Transportation, and Utilities in Washington' measures the average number of hours worked per week by production employees in the trade, transportation, and utilities sector in the state of Washington.
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 data series provides insight into labor market conditions and productivity trends within a key economic sector for the state of Washington. It is a leading indicator used by economists and policymakers to assess the health of the regional economy.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is closely watched by state and local officials to inform economic policy decisions.
Key Facts
- Washington is a major trade and transportation hub on the West Coast.
- The trade, transportation, and utilities sector accounts for over 20% of employment in the state.
- Average weekly hours reached a high of 41.2 in 2019 before declining during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This metric measures the average number of hours worked per week by production employees in the trade, transportation, and utilities sector in the state of Washington.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into labor market conditions and productivity trends within a critical economic sector for the state of Washington, making it a closely watched indicator by economists and policymakers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: State and local officials closely monitor this metric to inform economic policy decisions, as it provides a valuable indicator of the health of the regional economy.
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 Production Employees: Trade, Transportation, and Utilities in Washington (SMU53000004000000007A), retrieved from FRED.