Average Weekly Hours of All Employees: Professional and Business Services in Rhode Island
SMU44000006000000002 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
35.10
Year-over-Year Change
-4.10%
Date Range
1/1/2007 - 7/1/2025
Summary
The Average Weekly Hours of All Employees: Professional and Business Services in Rhode Island measures the average number of hours worked per week by employees in this sector within the state.
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 provides insight into the labor dynamics and productivity of the professional and business services industry in Rhode Island. It is a valuable metric for economists and policymakers to assess economic conditions and employment trends.
Methodology
The data is collected through surveys of businesses and establishments.
Historical Context
This trend can inform decisions around economic policies, workforce planning, and business investment strategies.
Key Facts
- Rhode Island's professional and business services sector employs over 70,000 workers.
- Average weekly hours peaked at 37.3 in 2018 before declining due to the COVID-19 pandemic.
- This metric has historically remained stable, fluctuating between 36-37 hours per week.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by employees in the professional and business services sector in Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the labor dynamics and productivity of a key industry, which is valuable for economists and policymakers assessing economic conditions and employment trends.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments.
Q: How is this trend used in economic policy?
A: This trend can inform decisions around economic policies, workforce planning, and business investment strategies.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, but there may be delays due to the survey collection process.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Professional and Business Services in Rhode Island (SMU44000006000000002), retrieved from FRED.