Average Weekly Hours of All Employees: Other Services in Wisconsin
SMU55000008000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
27.60
Year-over-Year Change
-4.17%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Weekly Hours of All Employees: Other Services in Wisconsin' measures the average number of hours worked per week by employees in the other services sector in Wisconsin. This metric provides insights into labor market conditions and productivity trends 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
The 'Average Weekly Hours' series tracks the average number of hours worked per week by employees in various industries and locations. For the other services sector in Wisconsin, this data point can be used to analyze workforce trends, productivity, and the overall health of the state's service-based economy.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists use this metric to assess labor market dynamics and inform economic and workforce development strategies.
Key Facts
- The other services sector includes industries like repair and maintenance, personal care, and religious organizations.
- Wisconsin's other services sector employs over 200,000 workers.
- Average weekly hours in this sector have remained relatively stable over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric measures the average number of hours worked per week by employees in the other services sector in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This data point provides insights into labor market conditions, productivity, and the overall health of Wisconsin's service-based economy.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess labor market dynamics and inform economic and workforce development strategies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Other Services in Wisconsin (SMU55000008000000002A), retrieved from FRED.