Average Weekly Hours of All Employees: Construction in Oregon
SMU41000002000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.80
Year-over-Year Change
3.85%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Hours of All Employees: Construction in Oregon trend measures the average number of hours worked per week by construction industry employees in the state of Oregon. This metric is an important indicator of economic activity and labor demand in the construction sector.
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 series tracks the average weekly hours worked by all employees in the construction industry across Oregon. It provides insights into productivity, labor utilization, and industry trends that are valuable for economists, policymakers, and industry analysts.
Methodology
The data is collected through surveys of Oregon employers by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is used to gauge the health and direction of the construction industry, which has broad implications for economic growth, employment, and investment.
Key Facts
- The average weekly hours in Oregon's construction industry peaked at 42.1 hours in June 2021.
- Construction workers in Oregon typically work longer hours than the national average.
- Weekly hours in the Oregon construction sector have been volatile since the onset of the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: The Average Weekly Hours of All Employees: Construction in Oregon trend measures the average number of hours worked per week by employees in the construction industry across the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor productivity, industry activity, and economic conditions in the construction sector, which is a key driver of overall economic growth.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to gauge the health of the construction industry and make informed decisions about economic policy, investment, and workforce development.
Q: Are there update delays or limitations?
A: The data is typically released with a 1-2 month delay, and may be subject to revisions as additional information becomes available.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Construction in Oregon (SMU41000002000000002A), retrieved from FRED.