Average Weekly Hours of All Employees: Professional and Business Services in Wisconsin
SMU55000006000000002 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36.40
Year-over-Year Change
1.68%
Date Range
1/1/2007 - 7/1/2025
Summary
This economic trend measures the average weekly hours worked by all employees in the professional and business services sector in Wisconsin. It provides insights into labor market conditions and productivity 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: Professional and Business Services in Wisconsin is an important economic indicator that tracks the average number of hours worked per week by all employees in the professional and business services sector. This metric offers insights into labor market dynamics, workforce utilization, and productivity trends within this crucial industry.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is widely used by policymakers, economists, and industry analysts to assess the health and outlook of Wisconsin's professional and business services sector.
Key Facts
- Wisconsin's professional and business services sector employs over 375,000 workers.
- The average weekly hours in this sector have remained relatively stable over the past decade.
- The professional and business services industry accounts for over 12% of Wisconsin's total economic output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by all employees in the professional and business services sector in Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor market conditions, workforce utilization, and productivity trends within Wisconsin's professional and business services industry, which is a key driver 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, economists, and industry analysts use this trend to assess the health and outlook of Wisconsin's professional and business services sector, which informs economic development strategies and workforce policies.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, with a typical release lag of around one month.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Professional and Business Services in Wisconsin (SMU55000006000000002), retrieved from FRED.