Average Weekly Hours of All Employees: Other Services in Maryland
SMU24000008000000002 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.50
Year-over-Year Change
-1.52%
Date Range
1/1/2007 - 6/1/2025
Summary
This trend measures the average weekly hours worked by all employees in the Other Services industry in Maryland. It provides insights into economic activity and labor market conditions in this sector.
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: Other Services in Maryland is an economic indicator that tracks the average number of hours worked per week by all employees in the Other Services industry, which includes a wide range of service-based businesses in the state. This metric is used to assess labor market trends and overall economic performance.
Methodology
The data is collected through monthly surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by policymakers, economists, and industry analysts to understand the health of Maryland's service-sector economy.
Key Facts
- The Other Services industry in Maryland includes personal care, repair, and religious organizations.
- In 2022, the average weekly hours for this sector in Maryland was 32.5 hours.
- This trend has been relatively stable over the past decade, with minor fluctuations.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly hours worked by all employees in the Other Services industry in Maryland, providing insights into labor market conditions in this sector.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the health and performance of Maryland's service-sector economy, which is a significant contributor to the state's overall economic activity.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of businesses by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and industry analysts closely monitor this trend to assess labor market conditions and the overall performance of Maryland's service-sector economy.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical lag of one to two months.
Similar SMU Trends
Average Weekly Hours of All Employees: Mining, Logging, and Construction in Maryland
SMU24000001500000002
All Employees: Government: State Government Educational Services in Maryland
SMU24000009092161101
All Employees: Financial Activities: Finance and Insurance in Maryland
SMU24000005552000001
Wholesale Trade Wages and Salaries in Maryland
MDWWHO
Gross Domestic Product: Natural Resources and Mining (11, 21) in Maryland
MDNATRESMINNGSP
90% Confidence Interval Lower Bound of Estimate of Median Household Income for Maryland
MHICILBMD24000A052NCEN
Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Other Services in Maryland (SMU24000008000000002), retrieved from FRED.