Average Weekly Hours of All Employees: Professional and Business Services in Connecticut
SMU09000006000000002 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
35.50
Year-over-Year Change
-1.39%
Date Range
1/1/2007 - 7/1/2025
Summary
This economic trend measures the average weekly hours worked by all employees in the professional and business services industry in Connecticut. It provides insights into the labor market and productivity in this key sector.
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 Average Weekly Hours of All Employees: Professional and Business Services in Connecticut metric tracks the average number of hours worked per week by all employees in the professional and business services industry within the state. This data is a key indicator of labor market conditions and industry activity.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is used by economists, policymakers, and businesses to assess labor market dynamics and productivity in the professional and business services sector in Connecticut.
Key Facts
- The professional and business services industry is a key driver of Connecticut's economy.
- Average weekly hours in this sector have fluctuated between 35-38 hours over the past decade.
- Changes in average weekly hours can signal shifts in labor demand and productivity.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by all employees in the professional and business services industry in Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor market conditions and productivity trends in a key sector of Connecticut's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this trend to assess labor market dynamics and productivity in the professional and business services sector, which informs economic policy decisions.
Q: Are there update delays or limitations?
A: This data is released monthly with a typical 1-2 month lag, and may be subject to revisions.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Professional and Business Services in Connecticut (SMU09000006000000002), retrieved from FRED.