Average Weekly Hours of All Employees: Professional and Business Services in Delaware
SMU10000006000000002 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.20
Year-over-Year Change
4.20%
Date Range
1/1/2007 - 6/1/2025
Summary
This economic trend measures the average weekly hours worked by all employees in the professional and business services industry in Delaware. It provides insights into the labor market and economic activity in the state.
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 Delaware metric tracks the average number of hours worked per week by workers in the professional and business services sector. This data is used by economists and policymakers to assess labor market conditions and gauge the overall health of the state's economy.
Methodology
The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is used to inform economic policy decisions and business investment strategies in Delaware.
Key Facts
- Delaware's professional and business services sector accounts for over 15% of the state's total employment.
- Average weekly hours in this industry have remained relatively stable over the past decade.
- Fluctuations in this metric can signal changes in economic demand and labor market conditions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by employees in the professional and business services industry in Delaware.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor market conditions and the overall health of Delaware's economy, which is valuable information for policymakers, businesses, and economists.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is used to inform economic policy decisions and business investment strategies in Delaware.
Q: Are there update delays or limitations?
A: The data is published 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 Delaware (SMU10000006000000002), retrieved from FRED.