Average Weekly Hours of All Employees: Financial Activities in Pennsylvania
SMU42000005500000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.80
Year-over-Year Change
2.44%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Weekly Hours of All Employees: Financial Activities in Pennsylvania' trend measures the average number of hours worked per week by all employees in the financial activities sector of Pennsylvania's economy. This metric provides insight into the state's financial industry labor market and economic activity.
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 all employees, including both full-time and part-time workers, in Pennsylvania's financial activities sector. It is used by economists and policymakers to monitor labor market conditions and productivity trends in the state's financial industry.
Methodology
The data is collected through surveys of employers conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is relevant for understanding the health and output of Pennsylvania's financial sector, which is a key driver of the state's economy.
Key Facts
- Pennsylvania's financial activities sector employs over 300,000 workers.
- The average weekly hours have remained relatively stable over the past decade.
- This trend is considered a leading indicator of economic conditions in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by all employees in the financial activities sector of Pennsylvania's economy.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the labor market conditions and productivity trends within Pennsylvania's financial industry, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to monitor the health and output of Pennsylvania's financial sector, which informs decisions related to economic development and workforce policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical release lag of 1-2 months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Financial Activities in Pennsylvania (SMU42000005500000002A), retrieved from FRED.