Average Weekly Hours of All Employees: Total Private in Connecticut
SMU09000000500000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
33.50
Year-over-Year Change
-1.47%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Hours of All Employees: Total Private in Connecticut metric measures the average number of hours worked per week by private sector employees in the state. This statistic is a key indicator of labor market conditions and economic activity.
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 data series tracks the average weekly hours worked by private industry employees in Connecticut. It provides insight into employment trends, worker productivity, and the overall health of the state's economy. Economists and policymakers use this metric to assess business cycle fluctuations and make informed decisions.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Changes in average weekly hours can signal shifts in labor demand and influence policies related to employment, wages, and economic growth.
Key Facts
- The series dates back to 1939.
- Connecticut's private sector employees worked an average of 34.4 hours per week in 2022.
- Average weekly hours declined during the COVID-19 pandemic but have since rebounded.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the average number of hours worked per week by private sector employees in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: Changes in average weekly hours provide insight into labor market conditions, worker productivity, and the overall health of Connecticut's economy, which is useful for economists and policymakers.
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: Fluctuations in average weekly hours can signal shifts in labor demand and influence policies related to employment, wages, and economic growth in Connecticut.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Total Private in Connecticut (SMU09000000500000002A), retrieved from FRED.