Average Weekly Hours of All Employees: Private Service Providing in North Carolina
SMU37000000800000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.70
Year-over-Year Change
-1.51%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Hours of All Employees: Private Service Providing in North Carolina is an important economic indicator that measures the average number of hours worked per week by private sector service workers 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
This metric provides insights into labor market conditions and productivity in North Carolina's private service industries, which are a significant driver of the state's economy. It is closely monitored by economists and policymakers to understand trends in employment, work hours, and overall economic activity.
Methodology
The data is collected through surveys of private sector businesses in North Carolina.
Historical Context
This trend is used to inform economic policy decisions and business planning.
Key Facts
- North Carolina's private service sector accounts for over 70% of the state's total employment.
- The average weekly hours for private service workers in North Carolina has remained relatively stable in recent years.
- Trends in this indicator can signal changes in demand for labor and the overall health of the state's economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by private sector service workers in North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor market conditions and productivity in North Carolina's private service industries, which are a significant driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private sector businesses in North Carolina.
Q: How is this trend used in economic policy?
A: This trend is used to inform economic policy decisions and business planning.
Q: Are there update delays or limitations?
A: There may be some delays in data availability, but the series is updated regularly by the Federal Reserve.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Private Service Providing in North Carolina (SMU37000000800000002A), retrieved from FRED.