Average Weekly Hours of All Employees: Financial Activities in Illinois
SMU17000005500000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.00
Year-over-Year Change
-1.86%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Hours of All Employees: Financial Activities in Illinois measures the average number of hours worked per week by employees in the financial sector in Illinois. This metric provides insights into the labor market and economic activity in the state's finance industry.
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 economic trend tracks the average weekly hours worked by all employees in the financial activities sector, including industries such as banking, insurance, and securities. It is a key indicator of labor market conditions and can signal changes in demand, productivity, and overall economic health in Illinois's finance-related industries.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to assess the strength and stability of Illinois's financial sector and its broader economic implications.
Key Facts
- The data is published monthly by the U.S. Bureau of Labor Statistics.
- Illinois is a major financial center, with a large concentration of banking, insurance, and investment firms.
- The financial activities sector accounts for a significant portion of Illinois's total employment and economic output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by all employees in the financial activities sector in Illinois, including industries such as banking, insurance, and securities.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the labor market and economic activity in Illinois's finance-related industries, which are a critical component of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the strength and stability of Illinois's financial sector and its broader economic implications.
Q: Are there update delays or limitations?
A: The data is published monthly by the U.S. Bureau of Labor Statistics, with a typical release lag of several weeks.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Financial Activities in Illinois (SMU17000005500000002A), retrieved from FRED.