Current Number of Part-Time, Temporary, and Contract Employees; Diffusion Index for Federal Reserve District 3: Philadelphia
NPBNDIF066MSFRBPHI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-1.40
Year-over-Year Change
-128.00%
Date Range
3/1/2011 - 7/1/2025
Summary
This economic indicator tracks the current number of part-time, temporary, and contract employees in the Philadelphia Federal Reserve District. It provides insights into the region's labor market dynamics and workforce flexibility.
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 Current Number of Part-Time, Temporary, and Contract Employees; Diffusion Index for Federal Reserve District 3: Philadelphia is a key indicator of the labor market conditions in the Philadelphia region. It measures the prevalence of non-standard employment arrangements, which can signal changes in employer and worker preferences.
Methodology
The data is collected through a monthly survey of businesses in the Philadelphia Federal Reserve District.
Historical Context
This indicator is closely monitored by policymakers and analysts to assess the health and flexibility of the regional labor market.
Key Facts
- The index ranges from 0 to 100, with higher values indicating more widespread use of part-time, temporary, and contract employment.
- The Philadelphia Federal Reserve District includes eastern Pennsylvania, southern New Jersey, and Delaware.
- This indicator complements other labor market measures, such as the unemployment rate and nonfarm payrolls.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the current number of part-time, temporary, and contract employees in the Philadelphia Federal Reserve District. It provides insights into the region's labor market flexibility and non-standard employment arrangements.
Q: Why is this trend relevant for users or analysts?
A: This indicator is closely monitored by policymakers and analysts to assess the health and adaptability of the regional labor market, which can have important implications for economic growth and workforce dynamics.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of businesses in the Philadelphia Federal Reserve District.
Q: How is this trend used in economic policy?
A: This indicator provides valuable information to policymakers and economists about the flexibility and responsiveness of the regional labor market, which can inform decisions related to economic and employment policies.
Q: Are there update delays or limitations?
A: The data is released monthly, with a typical lag of several weeks. While comprehensive, the indicator is limited to the Philadelphia Federal Reserve District and may not fully represent national labor market trends.
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Citation
U.S. Federal Reserve, Current Number of Part-Time, Temporary, and Contract Employees; Diffusion Index for Federal Reserve District 3: Philadelphia (NPBNDIF066MSFRBPHI), retrieved from FRED.