Average Weekly Hours of All Employees: Total Private in Rhode Island
Annual
SMU44000000500000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
33.20
Year-over-Year Change
0.30%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the annual average of total private employment in New York City. It provides a high-level overview of labor market conditions in the region.
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 represents the average number of people employed in the private sector in New York City over the course of a full calendar year. It is a key indicator of the overall health and trajectory of the local economy.
Methodology
The data is collected through surveys of private businesses and establishments in the New York City metropolitan area.
Historical Context
Policymakers and economists use this trend to assess broader employment patterns and guide economic policy decisions.
Key Facts
- New York City is the largest metropolitan economy in the United States.
- Private sector employment accounts for over 80% of total jobs in the city.
- The Annual trend has remained relatively stable in recent years.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average number of people employed in the private sector in New York City over the course of a full calendar year.
Q: Why is this trend relevant for users or analysts?
A: This trend provides a high-level overview of labor market conditions in the New York City region, which is a key driver of the broader U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private businesses and establishments in the New York City metropolitan area.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess broader employment patterns and guide economic policy decisions for the New York City region.
Q: Are there update delays or limitations?
A: The Annual trend data is updated on a regular basis, with a typical release lag of several months.
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Citation
U.S. Federal Reserve, Annual (SMU44000000500000002A), retrieved from FRED.