Nonfinancial Noncorporate Business; Other Current Transfers Paid, Transactions
Quarterly
NNBCTPQ027S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
46,118.00
Year-over-Year Change
13.59%
Date Range
1/1/1959 - 1/1/2025
Summary
The Quarterly Non-Farm Business Sector: Total Person-Hours measures the total hours worked by all employees in the non-farm business sector on a quarterly basis. This metric provides insight into labor market dynamics 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 indicator tracks the total number of person-hours worked in the non-farm business sector of the U.S. economy on a quarterly basis. It serves as an important measure of labor input and is used to analyze trends in productivity and employment.
Methodology
The data is collected through surveys of businesses and households by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to assess the health of the labor market and monitor changes in business sector productivity.
Key Facts
- The non-farm business sector accounts for about 75% of U.S. GDP.
- Total person-hours worked peaked in Q4 2019 before declining due to the COVID-19 pandemic.
- Tracking total hours worked is crucial for analyzing changes in labor productivity.
FAQs
Q: What does this economic trend measure?
A: The Quarterly Non-Farm Business Sector: Total Person-Hours measures the total number of hours worked by all employees in the non-farm business sector of the U.S. economy on a quarterly basis.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into labor market dynamics and productivity trends, which are crucial for policymakers and economists to assess the health of the overall economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and households by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to monitor changes in business sector productivity and employment, which informs decision-making on economic policies.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis, with a short delay after the end of each quarter to allow for data collection and processing.
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Citation
U.S. Federal Reserve, Quarterly Non-Farm Business Sector: Total Person-Hours (NNBCTPQ027S), retrieved from FRED.