Average Weekly Hours of All Employees: Other Services in South Carolina
SMU45000008000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
33.80
Year-over-Year Change
2.74%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Weekly Hours of All Employees: Other Services in South Carolina' measures the average weekly hours worked by employees in the 'Other Services' sector in South Carolina. This metric provides insight into the labor market and economic activity 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
The 'Other Services' sector includes a diverse range of businesses such as personal care services, religious organizations, and repair and maintenance services. This data series tracks the average weekly hours worked by all employees in this sector, offering a window into the state's economic conditions and labor force trends.
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 market analysts to assess the health and trends of the South Carolina service economy.
Key Facts
- The 'Other Services' sector accounts for approximately 4% of total employment in South Carolina.
- Average weekly hours in this sector have remained relatively stable over the past decade.
- The data is released monthly by the U.S. Bureau of Labor Statistics.
FAQs
Q: What does this economic trend measure?
A: This data series measures the average weekly hours worked by all employees in the 'Other Services' sector in South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the labor market and economic activity within the diverse 'Other Services' sector in South Carolina, which is an important part 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 market analysts use this metric to assess the health and trends of the South Carolina service economy, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is released monthly by the U.S. Bureau of Labor Statistics with no significant update delays.
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All Employees: Other Services: Repair and Maintenance in South Carolina
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New Private Housing Units Authorized by Building Permits: 1-Unit Structures for South Carolina
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Average Duration (in Quarters) from Business Application to Formation Within Eight Quarters: Total for All NAICS in South Carolina
BFDUR8QTOTALNSASC
Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Other Services in South Carolina (SMU45000008000000002A), retrieved from FRED.