Average Weekly Hours of All Employees: Trade, Transportation, and Utilities in North Carolina
Annual
SMU37000004000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.60
Year-over-Year Change
-6.32%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the total annual average number of employees in the U.S. nonfarm business sector. This is a key economic indicator tracked by policymakers and analysts.
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 people employed in the nonfarm business sector over the course of a calendar year. It is an important barometer of overall economic activity and labor market health.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists closely monitor annual employment trends to gauge the strength of the broader economy.
Key Facts
- The annual average number of U.S. nonfarm employees was over 150 million in 2022.
- Annual employment declined during the COVID-19 recession but has since recovered to pre-pandemic levels.
- The nonfarm business sector accounts for about 80% of total U.S. economic output.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average number of people employed in the U.S. nonfarm business sector over the course of a calendar year.
Q: Why is this trend relevant for users or analysts?
A: Annual employment is a key indicator of overall economic health and labor market conditions, making it closely watched by policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of business establishments conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and central banks use annual employment trends to assess the strength of the economy and inform decisions on monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The annual employment data is typically released with a lag of several months after the end of the calendar year.
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Citation
U.S. Federal Reserve, Annual (SMU37000004000000002A), retrieved from FRED.