Average Weekly Hours of All Employees: Information in North Carolina
Annual
SMU37000005000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36.50
Year-over-Year Change
-1.35%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual Trend measures the annual average of monthly employment figures for the state of Iowa. This metric is a key indicator of economic activity and labor market conditions.
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 yearly average of nonfarm payroll employment in Iowa. It is a widely-used gauge of the overall strength and direction of the state's economy, providing important context for policymakers and analysts.
Methodology
The data is collected through monthly surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual Trend is closely monitored by state and federal officials to inform economic and workforce development policies.
Key Facts
- Iowa's annual nonfarm employment averaged 1.6 million in 2022.
- The Annual Trend reached a record high in 2019 before declining during the COVID-19 pandemic.
- Manufacturing is a key driver of Iowa's economy, comprising over 15% of total annual employment.
FAQs
Q: What does this economic trend measure?
A: The Annual Trend measures the yearly average of nonfarm payroll employment in the state of Iowa, providing a high-level gauge of the state's labor market and economic activity.
Q: Why is this trend relevant for users or analysts?
A: The Annual Trend is a widely-followed indicator that offers crucial insights into the overall strength and direction of Iowa's economy, informing policy decisions and investment strategies.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of business establishments 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 state and federal officials to inform economic and workforce development policies, as it provides a comprehensive view of employment conditions in Iowa.
Q: Are there update delays or limitations?
A: The Annual Trend data is published with a slight delay, typically a few months after the end of the calendar year. There may also be minor revisions to historical data as more complete information becomes available.
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Citation
U.S. Federal Reserve, Annual (SMU37000005000000002A), retrieved from FRED.