The American labor force was among the hardest working in the world before the coronavirus pandemic led to mass furloughs and layoffs in March. In 2019, Americans averaged 1,779 hours on the job — that's 35.6 hours a week, assuming two weeks of vacation. In comparison, Danish workers put in an average of just 1,380 hours, while Mexican workers averaged 2,137 hours per year. WalletHub, a personal finance website, recently set about determining in which states people worked the hardest, based on 2019 data. Researchers compared the 50 states across two key dimensions — "direct work factors" and "indirect work factors" — and evaluated them using 10 metrics, each graded on a 100-point scale, with 100 representing hardest working. They then calculated each state's weighted average across all metrics to arrive at an overall score and used the scores to arrive at its ranking. The metrics for the direct work factors included average workweek hours, employment rate, share of households where no adults work, share of workers leaving vacation time unused, share of engaged workers and the rate of "idle youth" — 16- to 24-year-olds not at work or in school. Indirect work factors include average commute time, share of workers with multiple jobs, annual volunteer hours per resident and average leisure time spent per day. These were among the states that ranked highest and lowest on certain key metrics:
See the gallery for WalletHub's ranking of the 14 hardest-working states. --- Related on ThinkAdvisor:
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Sponsored by Allianz Life Insurance Company of North America and Allianz Life Financial Services LLC
Can Systematic Risk Be Reduced?