Average Weekly Hours of Production Employees: Retail Trade in Utah
SMU49000004200000007 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
30.30
Year-over-Year Change
5.57%
Date Range
1/1/2001 - 7/1/2025
Summary
The 'Average Weekly Hours of Production Employees: Retail Trade in Utah' measures the average number of hours worked per week by production employees in the retail industry in Utah. This metric provides insight into labor market trends and economic activity in 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 series tracks the average weekly hours worked by production employees in the retail trade sector in Utah. It is a key indicator of labor demand and productivity in the state's retail industry. Economists and policymakers use this data to assess the overall health of Utah's economy.
Methodology
The data is collected through a monthly establishment survey by the U.S. Bureau of Labor Statistics.
Historical Context
Retail sales and employment are closely watched by economists and policymakers to gauge consumer spending and economic conditions.
Key Facts
- Utah's retail sector accounts for over 12% of the state's employment.
- Average weekly hours in Utah's retail trade have declined by 2.5% since 2019.
- The retail industry is a major driver of economic activity in Utah.
FAQs
Q: What does this economic trend measure?
A: This series measures the average number of hours worked per week by production employees in the retail trade sector in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor demand, productivity, and economic conditions in Utah's retail industry, which is a crucial part of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through a monthly establishment survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Retail sales and employment figures, including average weekly hours, are closely monitored by economists and policymakers to assess consumer spending and the overall health of the economy.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Average Weekly Hours of Production Employees: Retail Trade in Utah (SMU49000004200000007), retrieved from FRED.