Average Weekly Hours of All Employees: Financial Activities in South Carolina
SMU45000005500000002 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
35.30
Year-over-Year Change
-4.85%
Date Range
1/1/2007 - 7/1/2025
Summary
This economic trend measures the average weekly hours worked by all employees in the financial activities sector in South Carolina. It provides insight into labor market conditions and economic activity in the state's financial 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
The Average Weekly Hours of All Employees: Financial Activities in South Carolina is a key indicator of the health and productivity of the state's financial services sector. It reflects the typical number of hours worked per week by individuals employed in banking, insurance, real estate, and other finance-related occupations.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is used by economists, policymakers, and industry analysts to monitor trends in financial sector labor utilization and inform decisions about economic and workforce development.
Key Facts
- The average weekly hours in South Carolina's financial activities sector peaked at 40.1 in 2019.
- Weekly hours declined during the COVID-19 pandemic, reaching a low of 37.7 in 2020.
- The financial activities sector accounts for approximately 5% of total employment in South Carolina.
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 in South Carolina, including banking, insurance, and real estate.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor market conditions and productivity in South Carolina's financial industry, which is an important driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and industry analysts use this metric to monitor trends in financial sector labor utilization and inform decisions about economic and workforce development.
Q: Are there update delays or limitations?
A: This data is published monthly with a typical release lag of 1-2 months.
Similar SMU Trends
Real Gross Domestic Product: Information (51) in South Carolina
SCINFORGSP
Average Weekly Hours of All Employees: Construction in South Carolina
SMU45000002000000002
Chain-Type Quantity Index for Real GDP: Computer Systems Design and Related Services (5415) in South Carolina
SCCPUSYSDSGNQGSP
Mining Earnings in South Carolina
SCEMIN
All Employees: Wholesale Trade in South Carolina
SMU45000004100000001
Other Labor Income in South Carolina
SCOOTH
Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Financial Activities in South Carolina (SMU45000005500000002), retrieved from FRED.