Average Weekly Hours of All Employees: Construction in Rhode Island
SMU44000002000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.10
Year-over-Year Change
0.00%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Weekly Hours of All Employees: Construction in Rhode Island' metric measures the average number of hours worked per week by construction workers in the state of Rhode Island. This data point is a key indicator of economic activity and labor market trends in the construction industry.
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 for all employees in the construction sector within Rhode Island. It provides insight into labor utilization and can signal changes in economic conditions, construction demand, and worker productivity within the state.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to assess the health of Rhode Island's construction industry and broader economic trends.
Key Facts
- Rhode Island's construction industry employs over 20,000 workers.
- The average weekly hours have fluctuated between 37-42 hours since 2010.
- Construction is a key driver of economic activity in Rhode Island.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average number of hours worked per week by all employees in the construction sector within the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This data point provides insight into labor utilization and can signal changes in economic conditions, construction demand, and worker productivity within Rhode Island.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the health of Rhode Island's construction industry and broader economic trends.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Construction in Rhode Island (SMU44000002000000002A), retrieved from FRED.