Average Weekly Hours of All Employees: Professional and Business Services in Arkansas
SMU05000006000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36.30
Year-over-Year Change
1.68%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Hours of All Employees: Professional and Business Services in Arkansas metric tracks the average number of hours worked per week by employees in the professional and business services sector in 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 insight into the productivity and labor market conditions within Arkansas' professional and business services industry. It is used by economists and policymakers to assess employment trends and gauge the overall health of the state's economy.
Methodology
The data is collected through surveys of businesses conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This metric helps inform decisions around economic and workforce development policies in Arkansas.
Key Facts
- Arkansas' professional and business services sector employs over 150,000 workers.
- Average weekly hours in this sector have remained stable around 36 hours since 2018.
- Fluctuations in average weekly hours can signal changes in demand for professional services.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average number of hours worked per week by employees in Arkansas' professional and business services sector.
Q: Why is this trend relevant for users or analysts?
A: The average weekly hours metric provides insights into labor market conditions and productivity within Arkansas' professional services industry, which is a key part of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Tracking changes in average weekly hours in the professional services sector can inform workforce and economic development policies in Arkansas.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag between the reference period and publication.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Professional and Business Services in Arkansas (SMU05000006000000002A), retrieved from FRED.