Average Weekly Hours of Production Employees: Professional and Business Services in West Virginia
SMU54000006000000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36.10
Year-over-Year Change
0.28%
Date Range
1/1/2003 - 1/1/2024
Summary
The Average Weekly Hours of Production Employees: Professional and Business Services in West Virginia measures the average number of hours worked per week by production employees in the professional and business services industry 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
This economic indicator provides insight into the labor productivity and utilization within the professional and business services sector in West Virginia. It is used by economists and policymakers to analyze employment trends and assess the health of the state's service-oriented industries.
Methodology
The data is collected through a survey of businesses conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in average weekly hours can inform economic and workforce development policies in West Virginia.
Key Facts
- The data is reported on a monthly basis.
- West Virginia's professional and business services sector employs over 100,000 workers.
- Average weekly hours peaked at 36.9 in October 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by production employees in the professional and business services industry in West Virginia.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into labor productivity and utilization in West Virginia's service-oriented industries, which is useful for economic and workforce analysis.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of businesses 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 economic and workforce development policies in West Virginia.
Q: Are there update delays or limitations?
A: The data is reported on a monthly basis with a typical lag of one to two months.
Related Trends
Industrial Carbon Dioxide Emissions, Industrial Other for West Virginia
EMISSCO2VCLICBWVA
Real Gross Domestic Product: Machinery Manufacturing (333) in West Virginia
WVMACHMANRGSP
Housing Inventory: Active Listing Count Year-Over-Year in West Virginia
ACTLISCOUYYWV
Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in West Virginia
WVAGRNGSP
Business Applications with Planned Wages: Total for All NAICS in West Virginia
BAWBATOTALNSAWV
Monthly State Retail Sales: Miscellaneous Store Retailers in West Virginia
MSRSWV453
Citation
U.S. Federal Reserve, Average Weekly Hours of Production Employees: Professional and Business Services in West Virginia (SMU54000006000000007A), retrieved from FRED.