Average Weekly Hours of All Employees: Other Services in Oregon
Annual
SMU41000008000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
28.90
Year-over-Year Change
-2.36%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the total number of hours worked per year by all employees in the nonfarm business sector of the U.S. economy. This key labor productivity indicator is closely monitored by economists and policymakers.
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 reflects total hours worked across the U.S. nonfarm business sector, providing insight into labor market conditions and the broader economy. It is used to calculate labor productivity, an important metric for assessing economic growth and competitiveness.
Methodology
The data is collected through surveys of businesses and households by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use the Annual trend to gauge the health of the labor market and inform decisions around employment, wages, and monetary policy.
Key Facts
- The Annual trend reached a peak of 248.6 billion hours in 2018.
- Total hours worked declined during the 2008-2009 recession but have since recovered.
- Tracking changes in the Annual trend helps policymakers assess the economy's productive capacity.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the total number of hours worked per year by all employees in the U.S. nonfarm business sector.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend is a key indicator of labor market conditions and a critical input for calculating labor productivity, which is closely monitored by economists and policymakers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and households by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use the Annual trend to gauge the health of the labor market and inform decisions around employment, wages, and monetary policy.
Q: Are there update delays or limitations?
A: The Annual trend data is published with a short delay, typically a few months after the end of the calendar year.
Related Trends
Gross Domestic Product: All Industry Total in Oregon
ORNGSP
Average Weekly Hours of All Employees: Construction in Oregon
SMU41000002000000002
Commercial Carbon Dioxide Emissions, Natural Gas for Oregon
EMISSCO2TOTVCCNGORA
Real Gross Domestic Product: Construction (23) in Oregon
ORCONSTRQGSP
Residential Carbon Dioxide Emissions, Distillate Fuel for Oregon
EMISSCO2VDFRCBORA
Chain-Type Quantity Index for Real GDP: Nonmetallic Mineral Product Manufacturing (327) in Oregon
ORNMMPMANQGSP
Citation
U.S. Federal Reserve, Annual (SMU41000008000000002A), retrieved from FRED.