Average Weekly Hours of All Employees: Professional and Business Services in District of Columbia
SMU11000006000000002 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38.30
Year-over-Year Change
-0.52%
Date Range
1/1/2007 - 6/1/2025
Summary
The 'Average Weekly Hours of All Employees: Professional and Business Services in District of Columbia' is a key economic indicator that measures the average number of hours worked per week by employees in the professional and business services sector in the District of Columbia. This metric provides insights into labor market trends and productivity in the region.
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 series tracks the average weekly hours worked by all employees in the professional and business services industry in Washington, D.C. It is a useful indicator of economic activity and labor market conditions in the nation's capital, as the professional and business services sector is a major driver of the local economy.
Methodology
The data is collected through surveys of businesses conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by policymakers, economists, and market analysts to assess the strength and resilience of the District of Columbia's economy.
Key Facts
- The professional and business services sector accounts for over 30% of D.C.'s total employment.
- Average weekly hours in this sector have remained relatively stable over the past decade.
- Fluctuations in this metric can signal changes in labor demand and economic conditions in the nation's capital.
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 sector in the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor market conditions and productivity in a key industry for the D.C. economy, making it relevant for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and market analysts closely monitor this trend to assess the strength and resilience of the District of Columbia's economy.
Q: Are there update delays or limitations?
A: The data is published monthly with a relatively short lag, providing timely information on labor market conditions in the District of Columbia.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Professional and Business Services in District of Columbia (SMU11000006000000002), retrieved from FRED.