Average Weekly Hours of All Employees: Construction in Indiana
Annual
SMU18000002000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.80
Year-over-Year Change
-3.08%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the total annual working hours for all employees in the United States. It is a key economic indicator that provides insights into labor market dynamics and productivity.
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 Annual trend represents the total number of hours worked by all employees in the U.S. economy over the course of a year. It is a widely used metric for analyzing labor market conditions, workforce utilization, and potential economic output.
Methodology
The data is collected through surveys of establishments and households by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual trend is closely monitored by policymakers, economists, and businesses to assess the overall health and capacity of the labor market.
Key Facts
- The Annual trend reached a record high of 300 billion hours in 2019.
- Annual hours worked declined sharply in 2020 due to the COVID-19 pandemic.
- Trends in Annual hours can signal changes in economic growth and labor utilization.
FAQs
Q: What does the Annual economic trend measure?
A: The Annual trend measures the total number of hours worked by all employees in the U.S. economy over the course of a year. It is a key indicator of labor market activity and workforce utilization.
Q: Why is the Annual trend relevant for users or analysts?
A: The Annual trend provides important insights into the overall health and capacity of the labor market, which is crucial for understanding economic growth, productivity, and the potential for future expansion.
Q: How is the Annual data collected or calculated?
A: The data for the Annual trend is collected through surveys of establishments and households conducted by the U.S. Bureau of Labor Statistics.
Q: How is the Annual trend used in economic policy?
A: Policymakers, economists, and businesses closely monitor the Annual trend to assess the overall state of the labor market and make informed decisions about economic and employment policies.
Q: Are there update delays or limitations to the Annual data?
A: The Annual data is typically published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Annual (SMU18000002000000002A), retrieved from FRED.