Average Weekly Hours of All Employees: Goods Producing in Wisconsin
Annual
SMU55000000600000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38.60
Year-over-Year Change
-2.28%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual series measures the average weekly hours worked per employee in the private sector. This metric is a key indicator of labor market conditions and productivity.
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 Annual series tracks the average number of hours worked per week by private sector employees in the United States. This statistic reflects the intensity of labor utilization and is used by economists to assess economic performance and labor market trends.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts monitor this series to gauge overall economic activity and labor market slack.
Key Facts
- The average workweek for private sector employees was 34.4 hours in 2022.
- Average weekly hours have declined from a peak of 34.6 in 2018.
- Manufacturing workers averaged 40.4 hours per week in 2022.
FAQs
Q: What does this economic trend measure?
A: The Annual series tracks the average number of hours worked per week by private sector employees in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric reflects the intensity of labor utilization and is used by economists to assess economic performance and labor market trends.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this series to gauge overall economic activity and labor market slack.
Q: Are there update delays or limitations?
A: The Annual series is published monthly with a typical delay of one to two months.
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Citation
U.S. Federal Reserve, Annual (SMU55000000600000002A), retrieved from FRED.