Average Weekly Hours of All Employees: Financial Activities in Alabama
SMU01000005500000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36.90
Year-over-Year Change
-1.86%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Hours of All Employees in the Financial Activities sector in Alabama measures the average number of hours worked per week by employees in this industry within 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
This economic indicator provides insights into labor market dynamics and productivity trends in Alabama's financial services industry. It is used by policymakers, economists, and businesses to understand workforce utilization and plan operations.
Methodology
The data is collected through surveys of employers and calculated as a monthly average.
Historical Context
This metric helps analyze the financial sector's health and can inform decisions around investment, hiring, and economic policies.
Key Facts
- Alabama's financial activities sector employs over 100,000 workers.
- Average weekly hours peaked at 39.7 in 2019 before declining due to the COVID-19 pandemic.
- Weekly hours have largely recovered, reaching 38.8 as of the latest data.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by employees in Alabama's financial activities sector, which includes industries like banking, insurance, and real estate.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor market conditions and productivity in a key industry, helping policymakers, businesses, and economists understand the financial sector's health and plan accordingly.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers and calculated as a monthly average of hours worked per employee.
Q: How is this trend used in economic policy?
A: This trend can inform decisions around investment, hiring, and economic policies related to the financial services industry in Alabama.
Q: Are there update delays or limitations?
A: The data is released monthly, but may be subject to revisions and can be impacted by factors like seasonal fluctuations or economic shocks.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Financial Activities in Alabama (SMU01000005500000002A), retrieved from FRED.