Average Weekly Hours of All Employees: Professional and Business Services in South Carolina
SMU45000006000000002 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38.20
Year-over-Year Change
2.14%
Date Range
1/1/2007 - 6/1/2025
Summary
The Average Weekly Hours of All Employees in Professional and Business Services in South Carolina measures the average number of hours worked per week by employees in this industry 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 labor market conditions and productivity trends for the professional and business services sector in South Carolina. It is used by economists and policymakers to assess economic performance and guide decisions.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is closely watched by labor market analysts and state economic development agencies.
Key Facts
- South Carolina's professional and business services sector employs over 300,000 workers.
- Average weekly hours in this industry have remained relatively stable over the past decade.
- Weekly hours tend to be higher in this sector compared to the state's overall private industry average.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the average number of hours worked per week by employees in the professional and business services industry in South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor market conditions and productivity trends for a key sector of the state's economy, which is useful for economists, policymakers, and business analysts.
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: This indicator is closely monitored by state economic development agencies and labor market analysts to assess the health of the professional and business services sector and guide policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of 1-2 months from the reference period.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Professional and Business Services in South Carolina (SMU45000006000000002), retrieved from FRED.