Economic Event | Average Workweek |
Units | Average hours of work per week |
Current Period | Jun 2009 |
Release Date | Jul. 02. 09 |
Reported | 33 |
Consensus for Current Period | 33.1 |
Number of Forecasts | 32 |
Economic Surprise | -0.1 ( -0.30 % ) |
Prior Period | May 2009 |
Reported Value for Prior Period | 33.1 |
Revised From | |
Next Release Date | Aug. 07. 09 |
Next Release Time | 8:30 AM Eastern Time |
Source | http://stats.bls.gov/news.release/pdf/empsit.pdf |
Note | The Average Workweek for this month is the lowest level on record for the series, which began in 1964. |
Description | The average workweek (also known as hours worked) is important for two main reasons. One is that it is a key determinant of monthly indicators such as industrial production and personal income. The other is that it is a useful indicator of labor market conditions: a rising workweek early in the business cycle may be the first indication that employers are preparing to boost their payrolls, while late in the cycle a rising workweek may indicate that employers are having difficulty finding qualified applicants for open positions. |