Average Hourly Earnings of All Employees: Leisure and Hospitality in Arkansas
Annual
SMU05000007000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17.40
Year-over-Year Change
73.65%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the average weekly hours worked per employee in the private sector. This key labor market indicator provides insights into economic activity and productivity.
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 Annual trend reflects the average number of hours worked per week by private sector employees in the United States. It is a widely tracked metric for evaluating labor utilization and productivity within the economy.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this indicator to assess the health of the labor market and broader economic conditions.
Key Facts
- The current annual average is around 34.5 hours per week.
- Hours worked reached a low of 33.7 during the 2008-2009 recession.
- Steady annual hours are a sign of economic stability and growth.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average number of hours worked per week by private sector employees in the United States.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into labor utilization and productivity, which are key factors in evaluating the health of the broader economy.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this indicator to assess labor market conditions and overall economic activity.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Annual (SMU05000007000000003A), retrieved from FRED.