Average Weekly Hours of All Employees: Mining, Logging, and Construction in Maryland
Annual
SMU24000001500000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38.20
Year-over-Year Change
0.53%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the annual average of monthly civilian labor force participation rates in the United States. This key economic indicator provides insight into the overall health and activity of the U.S. labor market.
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 average civilian labor force participation rate over a 12-month period. This rate reflects the percentage of the civilian population aged 16 and over who are either employed or actively seeking work. Economists and policymakers closely monitor this metric to assess labor market dynamics and identify emerging trends.
Methodology
The data is collected through the Current Population Survey, a monthly household survey conducted by the U.S. Census Bureau.
Historical Context
The Annual labor force participation rate is a crucial input for economic analysis and policy decisions related to employment, inflation, and overall economic performance.
Key Facts
- The annual average labor force participation rate in the U.S. was 63.4% in 2021.
- Labor force participation has declined from a peak of 67.3% in 2000.
- Participation rates vary significantly by age, gender, and other demographic factors.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average civilian labor force participation rate in the United States over a 12-month period.
Q: Why is this trend relevant for users or analysts?
A: The labor force participation rate is a key indicator of the overall health and activity of the U.S. labor market, providing important insights for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through the monthly Current Population Survey conducted by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: The Annual labor force participation rate is a crucial input for economic analysis and policy decisions related to employment, inflation, and overall economic performance.
Q: Are there update delays or limitations?
A: The Annual data is published with a one-month lag, so the most recent 12-month average is available after the end of each calendar year.
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Citation
U.S. Federal Reserve, Annual (SMU24000001500000002A), retrieved from FRED.