Average Weekly Hours of All Employees: Professional and Business Services in Washington
SMU53000006000000002 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
35.80
Year-over-Year Change
-1.10%
Date Range
1/1/2007 - 7/1/2025
Summary
This economic indicator tracks the average weekly hours worked by all employees in the professional and business services sector in Washington. It provides insights into labor market conditions and productivity trends in the state's service-oriented 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
The Average Weekly Hours of All Employees: Professional and Business Services in Washington measures the average number of hours per week worked by employees in the professional and business services industry in the state. This metric is used by economists and policymakers to assess labor market dynamics, workforce productivity, and overall economic activity.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in average weekly hours can inform decisions around employment, wage policies, and economic stimulus.
Key Facts
- The series dates back to 2003.
- Washington's professional and business services sector accounts for over 15% of state employment.
- Average weekly hours peaked at 37.4 in 2019 before declining during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the average number of hours per week worked by employees in the professional and business services industry in the state of Washington.
Q: Why is this trend relevant for users or analysts?
A: Trends in average weekly hours provide insights into labor market conditions, workforce productivity, and overall economic activity in Washington's service-oriented 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: Trends in average weekly hours can inform decisions around employment, wage policies, and economic stimulus measures.
Q: Are there update delays or limitations?
A: The data is published monthly 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 Washington (SMU53000006000000002), retrieved from FRED.