Average Weekly Hours of All Employees: Private Service Providing in Pennsylvania
SMU42000000800000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
33.10
Year-over-Year Change
3.12%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Hours of All Employees: Private Service Providing in Pennsylvania trend measures the average number of hours worked per week by private service sector employees in the state. This data provides insight into labor market dynamics and productivity.
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 hours worked by private service industry employees in Pennsylvania. It is used to assess employment, labor utilization, and productivity trends in the service sector of the state's economy.
Methodology
The data is collected through surveys of private businesses and establishments in Pennsylvania.
Historical Context
Policymakers and economists monitor this trend to understand labor market conditions and help guide economic and workforce development strategies.
Key Facts
- Pennsylvania is the 5th largest state economy in the U.S.
- The service sector accounts for over 80% of Pennsylvania's GDP.
- Average weekly hours peaked at 34.5 in 2019 before declining due to the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by private service sector employees in the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into labor market dynamics and productivity in Pennsylvania's service sector, which is a critical driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private businesses and establishments in Pennsylvania.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to understand labor market conditions and help guide economic and workforce development strategies in Pennsylvania.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of one to two months.
Related Trends
Average Weekly Earnings of Production Employees: Manufacturing in Pennsylvania
SMU42000003000000030
All Employees: Education and Health Services: General Medical and Surgical Hospitals in Pennsylvania
SMU42000006562210001SA
Regional Price Parities: Services: Other for Pennsylvania
PARPPSERVEOTH
Chain-Type Quantity Index for Real GDP: Retail Trade (44-45) in Pennsylvania
PARETAILQGSP
Real Personal Income: Metropolitan Portion for Pennsylvania
PAMPRPI
State Government Tax Collections, Public Utilities Licenses in Pennsylvania
PAUTILLICTAX
Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Private Service Providing in Pennsylvania (SMU42000000800000002A), retrieved from FRED.