Average Weekly Hours of All Employees: Other Services in the District of Columbia
SMU11000008000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.90
Year-over-Year Change
6.76%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Hours of All Employees: Other Services in the District of Columbia is an economic indicator that tracks the average number of hours worked per week by employees in the 'Other Services' sector within the District of Columbia. This metric provides insights into labor market conditions and economic activity 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
The 'Other Services' sector includes a diverse range of industries such as personal care services, religious organizations, and repair and maintenance services. The average weekly hours data offers a window into the demand for labor and productivity trends in this important part of the local economy.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is closely watched by policymakers, economists, and businesses to assess the strength of the District of Columbia's service-based economy.
Key Facts
- The 'Other Services' sector accounts for over 15% of total employment in the District of Columbia.
- Average weekly hours in this sector have remained relatively stable over the past decade.
- Trends in this metric can signal changes in consumer demand and business investment in the region.
FAQs
Q: What does this economic trend measure?
A: The Average Weekly Hours of All Employees: Other Services in the District of Columbia measures the average number of hours worked per week by employees in the 'Other Services' sector within the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor market conditions and economic activity in the District's service-based economy, which is a critical component of the local and regional economic landscape.
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: This trend is closely watched by policymakers, economists, and businesses to assess the strength of the District of Columbia's service-based economy and inform decision-making.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a short lag time. There are no known significant limitations to the data collection or reporting.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Other Services in the District of Columbia (SMU11000008000000002A), retrieved from FRED.