The Average Weekly Hours indicator shows the average number of working hours per week for those employed in private non-agricultural US companies.
The indicator calculation only includes individuals employed in the commercial sector of the economy. The calculation is based on a survey of approximately 147,000 companies, which provide around 634,000 jobs across the United States.
Figures are seasonally adjusted to mitigate technical volatility, which is not connected with the economic situation changes.
The calculation takes into account all branches of the production sector and the services sector, including extraction and processing of resources, construction, light and heavy industry (production of durable and non-durable goods is accounted separately), information, financial, educational services, health care, trade, transportation, etc.
The indicator is used to assess the state of the US labor market. It is used in the evaluation of short-term changes in labor force demand and the intensity of production. An increase in Average Weekly Hours is not a separately interpreted indicator. It is evaluated along with the average hourly earnings. Growth of both indicators may indicate a growth in inflation, and can therefore affects dollar quotes positively. If the working hours are reduced and the average wages decreases, this is a disturbing sign for the national economy.
The chart of the entire available history of the "United States Average Weekly Hours" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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