Average Weekly Hours of All Employees: Professional and Business Services in North Carolina
SMU37000006000000002 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.70
Year-over-Year Change
1.89%
Date Range
1/1/2007 - 6/1/2025
Summary
This economic trend measures the average weekly hours worked by all employees in the professional and business services sector in North Carolina. It is an important indicator of labor market conditions and 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: Professional and Business Services in North Carolina tracks the average number of hours worked per week by workers in this key services industry. It provides insights into productivity, labor demand, and overall economic performance in the state.
Methodology
The data is collected through surveys of businesses conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by economists, policymakers, and businesses to assess the health of North Carolina's professional and business services sector.
Key Facts
- North Carolina is a major hub for professional and business services.
- This sector accounts for over 15% of the state's total employment.
- Average weekly hours have remained relatively stable in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by employees in the professional and business services sector in North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into labor market conditions, productivity, and overall economic performance in a key services industry in North Carolina.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and businesses closely monitor this trend to assess the health of North Carolina's professional and business services sector.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Professional and Business Services in North Carolina (SMU37000006000000002), retrieved from FRED.