Average Weekly Hours of All Employees: Private Service Providing in Nebraska
SMU31000000800000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31.90
Year-over-Year Change
-2.45%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic trend measures the average weekly hours worked by all employees in the private service-providing sector in Nebraska. It provides insights into labor market conditions and the overall 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: Private Service Providing in Nebraska is a key economic indicator that tracks the average number of hours worked per week by employees in the private service-providing industries, such as trade, transportation, utilities, information, financial activities, professional and business services, education, health care, and leisure and hospitality.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is used by economists, policymakers, and businesses to monitor the state's economic performance and make informed decisions.
Key Facts
- The average weekly hours in Nebraska's private service sector have remained relatively stable over the past decade.
- The service-providing sector accounts for a significant portion of Nebraska's total employment.
- Fluctuations in this trend can signal changes in business activity and consumer demand in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly hours worked by all employees in the private service-providing sector in Nebraska, providing insights into labor market conditions and overall economic activity in the state.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for economists, policymakers, and businesses to monitor the state's economic performance and make informed decisions.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess the state of the Nebraska economy and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is released monthly, with a typical delay of a few weeks from the end of the reference period.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Private Service Providing in Nebraska (SMU31000000800000002A), retrieved from FRED.