Average Weekly Hours of All Employees: Trade, Transportation, and Utilities in Wisconsin
SMU55000004000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.20
Year-over-Year Change
0.00%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic trend measures the average weekly hours worked by all employees in the trade, transportation, and utilities sector in Wisconsin. It provides insight into the labor market and economic activity in this key industry.
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 of All Employees: Trade, Transportation, and Utilities in Wisconsin is an important economic indicator that reflects the level of production and demand in the state's wholesale, retail, transportation, and utility industries. It is used by analysts and policymakers to gauge overall economic conditions and workforce utilization.
Methodology
The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by economists, businesses, and government agencies to understand the health of the Wisconsin economy and guide policy decisions.
Key Facts
- The data is released monthly by the U.S. Bureau of Labor Statistics.
- Wisconsin's trade, transportation, and utilities sector accounts for over 20% of the state's total employment.
- Average weekly hours in this sector have remained relatively stable over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by all employees in Wisconsin's trade, transportation, and utilities sector, which includes wholesale, retail, transportation, and utility companies.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the health and productivity of a key component of Wisconsin's economy, helping analysts and policymakers understand overall economic conditions and workforce utilization in the state.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists, businesses, and government agencies closely monitor this trend to gauge the strength of Wisconsin's economy and inform policy decisions related to employment, industry regulation, and economic development.
Q: Are there update delays or limitations?
A: The data is released monthly with a short delay, and may be subject to revisions as additional information becomes available.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Trade, Transportation, and Utilities in Wisconsin (SMU55000004000000002A), retrieved from FRED.