Average Weekly Hours of All Employees: Private Service Providing in West Virginia
SMU54000000800000002 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
34.10
Year-over-Year Change
0.00%
Date Range
1/1/2007 - 6/1/2025
Summary
This trend measures the average weekly hours worked by private sector service industry employees in West Virginia. It provides insights into labor market conditions 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
The average weekly hours metric tracks the typical number of hours worked per week by private service sector workers in West Virginia. This data point is used by economists and policymakers to gauge employment levels, worker productivity, and overall economic performance in the state.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is relevant for understanding West Virginia's service industry labor market and informing economic policies.
Key Facts
- West Virginia's private service sector accounts for over 70% of state GDP.
- Average weekly hours in West Virginia's service industry have remained relatively stable over the past decade.
- Service sector jobs make up the largest share of employment in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by private sector service industry employees in West Virginia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the labor market conditions and overall economic activity in West Virginia's service sector, which is a critical component 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: Policymakers and economists use this metric to understand employment levels, worker productivity, and the overall performance of West Virginia's service industry, which informs economic policies and decision-making.
Q: Are there update delays or limitations?
A: The data is typically released with a one-month lag and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Private Service Providing in West Virginia (SMU54000000800000002), retrieved from FRED.