Annual
SMU31000001523800001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29.90
Year-over-Year Change
4.91%
Date Range
1/1/1990 - 1/1/2014
Summary
The Annual trend measures the average number of hours worked per week by production and nonsupervisory employees in the private nonfarm sector in the United States. This metric is a key indicator of labor market conditions and economic activity.
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 number of hours that production and nonsupervisory employees work per week in the private nonfarm economy. It is a widely tracked labor market statistic used by economists, policymakers, and analysts to gauge the health and utilization of the U.S. workforce.
Methodology
The data is collected through a monthly survey of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual trend provides insight into labor market dynamics and is often used to inform economic policy decisions.
Key Facts
- The average annual work week in the U.S. private sector is around 34 hours.
- The Annual trend reached a low of 33.2 hours in April 2020 due to the COVID-19 pandemic.
- Longer work weeks are generally associated with stronger economic growth.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average number of hours worked per week by production and nonsupervisory employees in the private nonfarm sector of the U.S. economy.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend is a key indicator of labor market conditions and economic activity, providing insight into workforce utilization and productivity.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of businesses conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Annual trend is closely monitored by policymakers and economists to help inform decisions related to employment, monetary policy, and overall economic management.
Q: Are there update delays or limitations?
A: The Annual trend data is released monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Annual (SMU31000001523800001A), retrieved from FRED.