Average Weekly Hours of All Employees: Total Private in Hawaii
SMU15000000500000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
33.00
Year-over-Year Change
-2.65%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Hours of All Employees: Total Private in Hawaii measures the average number of hours worked per week by private sector employees in Hawaii. This statistic is an important indicator of economic activity and labor market conditions 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
This series tracks the average weekly hours for all private industry employees in Hawaii, providing insight into the state's labor market and overall economic health. It is a commonly used metric by economists and policymakers to assess workforce productivity and consumer demand.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This labor market indicator is closely monitored by federal and state economic agencies to inform policy decisions and economic forecasting.
Key Facts
- Hawaii's average weekly hours for private sector employees were 34.7 in January 2023.
- The average weekly hours trend in Hawaii has been relatively stable over the past decade.
- Changes in average weekly hours can signal shifts in business operations and consumer demand.
FAQs
Q: What does this economic trend measure?
A: The Average Weekly Hours of All Employees: Total Private in Hawaii measures the average number of hours worked per week by private sector employees in the state.
Q: Why is this trend relevant for users or analysts?
A: This labor market indicator provides insight into workforce productivity, consumer demand, and overall economic conditions in Hawaii.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Federal and state economic agencies closely monitor this indicator to inform policy decisions and economic forecasting.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical release delay of around one month.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Total Private in Hawaii (SMU15000000500000002A), retrieved from FRED.