Average Weekly Hours of All Employees: Other Services in Connecticut
Annual
SMU09000008000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29.80
Year-over-Year Change
-5.10%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the average number of hours worked per week by all employees in the private sector in the United States. This key labor market indicator provides insight into productivity and work patterns.
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 trend tracks the average weekly hours worked across all private sector jobs in the U.S. economy. It is a widely followed metric that economists use to assess labor market conditions, worker productivity, and broader economic trends.
Methodology
The data is collected through monthly surveys of businesses and households by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts monitor the Annual trend to gauge the health of the labor market and broader economic activity.
Key Facts
- The Annual trend reached a high of 34.6 hours in 2019.
- Weekly hours worked declined during the COVID-19 pandemic.
- Stable Annual figures indicate a healthy, fully employed economy.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average number of hours worked per week by all private sector employees in the United States.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend provides valuable insight into labor market conditions, worker productivity, and overall economic activity.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of businesses and households by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor the Annual trend to gauge the health of the labor market and broader economic conditions.
Q: Are there update delays or limitations?
A: The Annual trend data is published monthly with a short delay, providing timely insights into labor market dynamics.
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Citation
U.S. Federal Reserve, Annual (SMU09000008000000002A), retrieved from FRED.