Average Weekly Hours of All Employees: Professional and Business Services in Louisiana
SMU22000006000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.50
Year-over-Year Change
-3.35%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic trend measures the average weekly hours worked by employees in the professional and business services sector in Louisiana. It provides insights into labor market conditions and productivity in this key 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
The Average Weekly Hours of All Employees: Professional and Business Services in Louisiana trend represents the average number of hours worked per week by employees in the professional and business services sector in the state of Louisiana. This metric is used by economists and policymakers to assess labor market dynamics and industry-specific productivity.
Methodology
The data is collected through surveys of establishments in Louisiana, with the average weekly hours calculated from reported total hours worked and number of employees.
Historical Context
This trend is relevant for understanding the health of the professional and business services industry in Louisiana and can inform economic and workforce policies.
Key Facts
- Louisiana's professional and business services sector employs over 200,000 workers.
- The average weekly hours in this sector have remained relatively stable over the past decade.
- Trends in average weekly hours can signal changes in labor demand and productivity.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by employees in the professional and business services sector in Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into labor market conditions and productivity in a key industry, which can inform economic and workforce policies.
Q: How is this data collected or calculated?
A: The data is collected through surveys of establishments in Louisiana, with the average weekly hours calculated from reported total hours worked and number of employees.
Q: How is this trend used in economic policy?
A: Trends in average weekly hours in the professional and business services sector can signal changes in labor demand and productivity, which can inform economic and workforce policies.
Q: Are there update delays or limitations?
A: The data is subject to the normal release schedule and potential revisions associated with the establishment surveys.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Professional and Business Services in Louisiana (SMU22000006000000002A), retrieved from FRED.