Average Weekly Hours of All Employees: Private Service Providing in Delaware
SMU10000000800000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31.60
Year-over-Year Change
-2.17%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Weekly Hours of All Employees: Private Service Providing in Delaware' metric tracks the average number of hours worked per week by private sector service employees in the state of Delaware. This provides insight into labor market trends and economic conditions.
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 measures the average weekly hours worked by private sector service industry employees in Delaware. It is an important labor market indicator used by economists and policymakers to analyze workforce productivity, labor demand, and overall economic performance.
Methodology
The data is collected through the Current Employment Statistics (CES) program by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in average weekly hours can inform monetary and fiscal policy decisions, as well as provide context for consumer spending, hiring, and other macroeconomic factors.
Key Facts
- Delaware's private service sector employs over 70% of the state's workforce.
- The average weekly hours metric has remained relatively stable over the past decade.
- Fluctuations in average hours can signal changes in business operations and labor demand.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the average number of hours worked per week by private sector service industry employees in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: Trends in average weekly hours provide important insights into labor market conditions, workforce productivity, and overall economic performance in Delaware.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) program by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Fluctuations in average weekly hours can inform monetary and fiscal policy decisions, as well as provide context for consumer spending, hiring, and other macroeconomic factors.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Private Service Providing in Delaware (SMU10000000800000002A), retrieved from FRED.