Average Weekly Hours of All Employees: Leisure and Hospitality in Arkansas
SMU05000007000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25.10
Year-over-Year Change
-4.20%
Date Range
1/1/2007 - 1/1/2024
Summary
This trend measures the average weekly hours worked by all employees in the leisure and hospitality industry in Arkansas. It provides insights into labor market dynamics and economic activity in the state's service sector.
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: Leisure and Hospitality in Arkansas trend tracks the average number of hours worked per week by individuals employed in the leisure and hospitality industry within the state. This metric offers valuable information about labor market conditions and can help analyze trends in economic output and consumer demand.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through surveys of businesses and households.
Historical Context
This trend is closely monitored by policymakers, economists, and industry analysts to assess the health of Arkansas's service-based economy.
Key Facts
- Arkansas's leisure and hospitality industry employs over 200,000 workers.
- Average weekly hours peaked at 29.4 in August 2019 before declining during the COVID-19 pandemic.
- The trend provides insights into consumer spending patterns and tourism activity in Arkansas.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by employees in the leisure and hospitality industry in Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This trend offers insights into labor market conditions and economic activity in Arkansas's service sector, which is crucial for understanding the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through surveys of businesses and households.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and industry analysts closely monitor this trend to assess the health of Arkansas's service-based economy and make informed decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately one month.
Related Trends
Monthly State Retail Sales: Clothing and Clothing Accessories Stores in Arkansas
MSRSAR448
Number of Noninsured Nonmember Commercial Banks in Arkansas
X08CBNMBNIAR
Covered Employment in Arkansas
ARCEMPLOY
Real Gross Domestic Product: Funds, Trusts, and Other Financial Vehicles (525) in Arkansas
ARFNDTRSTRGSP
Personal Consumption Expenditures: Goods: Durable Goods: Other Durable Goods for Arkansas
ARPCEODURG
Gross Domestic Product: Accommodation and Food Services (72) in Arkansas
ARACCFDNGSP
Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Leisure and Hospitality in Arkansas (SMU05000007000000002A), retrieved from FRED.