Hours: Hours Worked: Industry and Services: Monthly for Spain
HOHWIS03ESQ065N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
121.50
Year-over-Year Change
5.65%
Date Range
1/1/1977 - 7/1/2023
Summary
The 'Hours: Hours Worked: Industry and Services: Monthly for Spain' series measures the average number of hours worked per person in the Spanish industrial and services sectors on a monthly basis. This metric is a key indicator of labor market activity 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
This economic trend represents the average hours worked per person in Spain's industrial and services sectors, which account for the majority of the country's economic output. It is a widely followed indicator used by economists, policymakers, and analysts to assess the strength and utilization of the Spanish labor force.
Methodology
The data is collected through surveys of Spanish businesses and compiled by the national statistical agency.
Historical Context
Policymakers and market participants closely monitor this series to gauge the health of the Spanish economy and inform decisions related to economic and employment policies.
Key Facts
- Spain is the fourth-largest economy in the Eurozone.
- The industrial and services sectors account for over 90% of Spain's GDP.
- Hourly productivity in Spain lags behind other major European economies.
FAQs
Q: What does this economic trend measure?
A: This series measures the average number of hours worked per person in Spain's industrial and services sectors on a monthly basis.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of labor market activity and productivity, providing insights into the strength and utilization of the Spanish workforce.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Spanish businesses and compiled by the national statistical agency.
Q: How is this trend used in economic policy?
A: Policymakers and market participants closely monitor this series to gauge the health of the Spanish economy and inform decisions related to economic and employment policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a short delay, and may be subject to revisions as additional information becomes available.
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Leading Indicators OECD: Component Series: Business Tendencies Survey: Capacity Utilization: Normalised for Spain
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Infra-Annual Labor Statistics: Inactivity Rate Male: From 25 to 54 Years for Spain
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Liquid Liabilities (Broad Money) for Spain
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Citation
U.S. Federal Reserve, Hours: Hours Worked: Industry and Services: Monthly for Spain (HOHWIS03ESQ065N), retrieved from FRED.