Average Weekly Hours of All Employees: Other Services in Ohio
SMU39000008000000002 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29.70
Year-over-Year Change
0.34%
Date Range
1/1/2007 - 6/1/2025
Summary
The Average Weekly Hours of All Employees: Other Services in Ohio measures the average number of hours worked per week by employees in the service sector in Ohio, excluding healthcare and social assistance. This metric provides insights into 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
This economic indicator tracks the average weekly work hours for employees in Ohio's service industries, such as entertainment, accommodation, and personal services. It is used by economists and policymakers to assess employment, production, and consumer demand in the state's economy.
Methodology
The data is collected through surveys of businesses conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This metric helps inform decisions around monetary and fiscal policies that can impact the service sector in Ohio.
Key Facts
- Ohio's service sector accounts for over 70% of the state's GDP.
- Average weekly hours peaked at 33.2 in November 2021.
- The metric has shown gradual recovery from pandemic-related declines.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average number of hours worked per week by employees in Ohio's service-providing industries, excluding healthcare and social assistance.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into employment, production, and consumer demand in Ohio's service sector, which is a crucial part of the state's economy.
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: Policymakers and economists use this metric to inform decisions around monetary and fiscal policies that can impact the service sector in Ohio.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical delay of about one month.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Other Services in Ohio (SMU39000008000000002), retrieved from FRED.