Average Weekly Hours of All Employees: Professional and Business Services in Indiana
SMU18000006000000002 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
34.40
Year-over-Year Change
-4.97%
Date Range
1/1/2007 - 7/1/2025
Summary
The 'Average Weekly Hours of All Employees: Professional and Business Services in Indiana' measures the average number of hours worked per week by employees in the professional and business services sector in Indiana. This data provides insights into the economic activity and labor market trends 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 economic indicator tracks the average number of hours worked per week by all employees in the professional and business services industry in Indiana. It is an important measure of labor utilization and economic output for the state's service sector.
Methodology
The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by policymakers, economists, and businesses to assess the health of Indiana's service-oriented economy.
Key Facts
- Indiana's professional and business services sector accounts for over 15% of the state's employment.
- Average weekly hours in this sector have remained relatively stable over the past decade.
- The trend is a leading indicator of economic activity and consumer demand in Indiana.
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 professional and business services industry in Indiana.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the health and utilization of Indiana's service-oriented labor market, which is a crucial part of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and businesses monitor this trend to assess the overall strength of Indiana's service sector and make informed decisions about economic policy and investment.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical delay of 1-2 months from the reference period.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Professional and Business Services in Indiana (SMU18000006000000002), retrieved from FRED.