Average Weekly Hours of All Employees: Professional and Business Services in Alabama
SMU01000006000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36.60
Year-over-Year Change
0.27%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Weekly Hours of All Employees: Professional and Business Services in Alabama' series measures the average number of hours worked per week by employees in the professional and business services sector in Alabama.
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 the labor utilization and productivity of the professional and business services industry in Alabama. It is a valuable metric for analyzing employment trends, labor force dynamics, and economic conditions within the state.
Methodology
The data is collected through surveys of businesses and establishments in Alabama.
Historical Context
Policymakers and economists use this trend to assess the health and growth of the professional services sector in the state.
Key Facts
- Alabama's professional and business services sector employs over 300,000 workers.
- The average weekly hours in this sector have remained relatively stable over the past decade.
- This data is released monthly by the U.S. Bureau of Labor Statistics.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by employees in the professional and business services sector in Alabama.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the labor utilization and productivity of the professional and business services industry in Alabama, which is a key sector for the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments in Alabama.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the health and growth of the professional services sector in Alabama, which informs economic policies and decision-making.
Q: Are there update delays or limitations?
A: The data is released monthly by the U.S. Bureau of Labor Statistics, with minimal update delays.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Professional and Business Services in Alabama (SMU01000006000000002A), retrieved from FRED.