Production or Nonsupervisory Employees: Information in Utah
Annual
SMU49000005000000006A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31.20
Year-over-Year Change
14.71%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual trend measures the average weekly hours worked per employee in the private nonfarm sector of the U.S. economy. This key labor productivity metric is closely watched by economists and policymakers.
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 Annual trend tracks the average number of hours worked per week by private sector employees in the United States. It provides insight into labor productivity and is used to analyze employment, output, and economic growth.
Methodology
The data is collected through surveys of private businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual trend is a crucial input for evaluating the health of the U.S. labor market and informing economic and monetary policy decisions.
Key Facts
- The average weekly hours worked per employee in the U.S. private sector was 34.4 in 2022.
- Annual hours worked has increased by 3.6% over the past decade.
- Declining annual hours can signal economic slowdown or recession.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average number of hours worked per week by private sector employees in the United States.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend provides insight into labor productivity and is used to analyze employment, output, and economic growth.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private businesses and establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Annual trend is a crucial input for evaluating the health of the U.S. labor market and informing economic and monetary policy decisions.
Q: Are there update delays or limitations?
A: The Annual trend data is published monthly with a typical one-month delay.
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Citation
U.S. Federal Reserve, Annual (SMU49000005000000006A), retrieved from FRED.