Average Weekly Hours of All Employees: Trade, Transportation, and Utilities in Connecticut
Annual
SMU09000004000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31.90
Year-over-Year Change
-8.07%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual employment trend measures the monthly average of nonfarm payroll employment in the United States. It is a key economic indicator used by policymakers and analysts to assess the health of the labor market.
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
The Annual employment trend represents the total number of employees on business payrolls, excluding farm workers, private household employees, and employees of certain nonprofit organizations. It is a widely followed economic metric that provides insight into overall employment levels and economic activity.
Methodology
The data is collected through monthly surveys of a sample of nonfarm business establishments.
Historical Context
The Annual employment trend is closely watched by the Federal Reserve and other policymakers as they evaluate the need for monetary policy adjustments.
Key Facts
- The Annual employment trend reached a record high of 151.8 million in February 2020.
- Employment levels fell sharply during the COVID-19 pandemic, dropping to 130.2 million in April 2020.
- The Annual employment trend has been steadily recovering, reaching 149.2 million as of December 2022.
FAQs
Q: What does this economic trend measure?
A: The Annual employment trend measures the monthly average of nonfarm payroll employment in the United States, providing insight into overall employment levels and economic activity.
Q: Why is this trend relevant for users or analysts?
A: The Annual employment trend is a key economic indicator used by policymakers and analysts to assess the health of the labor market and the overall state of the economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of a sample of nonfarm business establishments.
Q: How is this trend used in economic policy?
A: The Annual employment trend is closely watched by the Federal Reserve and other policymakers as they evaluate the need for monetary policy adjustments to support economic growth and employment.
Q: Are there update delays or limitations?
A: The Annual employment trend data is released monthly, with a typical delay of a few weeks from the end of the reference period.
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Citation
U.S. Federal Reserve, Annual (SMU09000004000000002A), retrieved from FRED.