Average Weekly Hours of All Employees: Total Private in Arizona
SMU04000000500000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
35.10
Year-over-Year Change
0.29%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Hours of All Employees: Total Private in Arizona measures the average number of hours worked per week by private sector employees in the state. This metric provides insight into labor market conditions and the overall health of the Arizona economy.
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 average weekly hours worked by private sector employees in Arizona. It is used by economists and policymakers to assess labor market trends, worker productivity, and overall economic activity in the state.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
The average weekly hours trend helps inform economic and monetary policy decisions by the Federal Reserve and state governments.
Key Facts
- Arizona's average weekly hours in the private sector have ranged from 34.0 to 34.9 over the past decade.
- The average weekly hours trend correlates with overall economic performance and business cycle fluctuations in Arizona.
- Policymakers monitor this metric to gauge the strength of the state's labor market and identify potential areas for workforce development.
FAQs
Q: What does this economic trend measure?
A: The Average Weekly Hours of All Employees: Total Private in Arizona measures the average number of hours worked per week by private sector employees in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor market conditions and the overall health of the Arizona economy, helping inform economic and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The average weekly hours trend helps inform economic and monetary policy decisions by the Federal Reserve and state governments.
Q: Are there update delays or limitations?
A: The data is typically released with a one-month lag and may be subject to periodic revisions by the statistical agencies.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Total Private in Arizona (SMU04000000500000002A), retrieved from FRED.