Average Weekly Hours of All Employees: Private Service Providing in Wisconsin
SMU55000000800000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
30.80
Year-over-Year Change
-2.53%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Weekly Hours of All Employees: Private Service Providing in Wisconsin' tracks the average number of hours worked per week by private service-providing workers in the state of Wisconsin. This metric is a key indicator of labor market activity and productivity.
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 measures the average weekly hours for all employees in the private service-providing industries in Wisconsin. It provides insights into workforce utilization and can signal changes in economic conditions and labor demand within the state's service sector.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Economists and policymakers monitor this trend to assess the health of Wisconsin's service economy and labor market.
Key Facts
- The series has been tracked since 1990.
- Wisconsin's private service sector accounts for over 70% of total employment.
- Average weekly hours peaked at 33.4 in 2019 before declining during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by private service-providing employees in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into workforce utilization and can signal changes in economic conditions and labor demand within Wisconsin's service sector.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this trend to assess the health of Wisconsin's service economy and labor market.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Private Service Providing in Wisconsin (SMU55000000800000002A), retrieved from FRED.