Average Weekly Hours of All Employees: Professional and Business Services in Maryland
SMU24000006000000002 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
35.60
Year-over-Year Change
1.71%
Date Range
1/1/2007 - 7/1/2025
Summary
This trend measures the average weekly hours worked by all employees in the professional and business services sector in Maryland. It provides insights into the labor market and economic activity 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
The Average Weekly Hours of All Employees: Professional and Business Services in Maryland is an economic indicator that tracks the average number of hours worked per week by employees in the professional and business services industry within the state. It is used by economists and policymakers to assess labor market conditions and overall economic performance.
Methodology
The data is collected through surveys of businesses and establishments in Maryland.
Historical Context
This trend is monitored by government agencies, economists, and businesses to understand the state's economic conditions and make informed decisions.
Key Facts
- The average weekly hours in Maryland's professional and business services sector have remained relatively stable over the past decade.
- This trend is considered a leading indicator of economic activity and labor market conditions in the state.
- The professional and business services sector is a major contributor to Maryland's economy, accounting for a significant portion of employment and output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly hours worked by all employees in the professional and business services sector in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the labor market and overall economic activity in Maryland, which is valuable information for policymakers, economists, and businesses operating in the state.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments in Maryland.
Q: How is this trend used in economic policy?
A: This trend is monitored by government agencies, economists, and businesses to understand the state's economic conditions and make informed decisions.
Q: Are there update delays or limitations?
A: The data is published on a regular basis, but there may be some delay in the release of the latest figures.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Professional and Business Services in Maryland (SMU24000006000000002), retrieved from FRED.