Average Weekly Hours of All Employees: Other Services in Virginia
SMU51000008000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31.50
Year-over-Year Change
-2.17%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Weekly Hours of All Employees: Other Services in Virginia' measures the average number of hours worked per week by employees in the 'Other Services' sector in Virginia.
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 data series provides insights into labor productivity and utilization within the 'Other Services' industry in Virginia, which includes repair and maintenance, personal and laundry services, and religious and grantmaking organizations.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is used by economists and policymakers to assess economic conditions and labor market trends in Virginia.
Key Facts
- The 'Other Services' sector accounts for approximately 4% of total employment in Virginia.
- Average weekly hours in this sector have remained relatively stable over the past decade.
- This data is released monthly by the U.S. Bureau of Labor Statistics.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by employees in the 'Other Services' sector in Virginia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor productivity and utilization within the 'Other Services' industry in Virginia, which is an important component of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This metric is used by economists and policymakers to assess economic conditions and labor market trends in Virginia.
Q: Are there update delays or limitations?
A: The data is released monthly by the U.S. Bureau of Labor Statistics with minimal delays.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Other Services in Virginia (SMU51000008000000002A), retrieved from FRED.