Average Weekly Hours of All Employees: Leisure and Hospitality in Delaware
SMU10000007000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25.10
Year-over-Year Change
-0.79%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Weekly Hours of All Employees: Leisure and Hospitality in Delaware' trend measures the average number of hours worked per week by employees in the leisure and hospitality sector in the state of Delaware. This metric provides insights into labor market conditions and economic activity in the service industry.
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
This data series tracks the average weekly hours worked by all employees in the leisure and hospitality industry within Delaware. It serves as an important indicator of the health and productivity of this key service sector, which includes businesses like hotels, restaurants, and entertainment venues.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists monitor this trend to assess the state of the Delaware service economy and make informed decisions.
Key Facts
- Leisure and hospitality accounts for over 10% of employment in Delaware.
- Average weekly hours peaked at 26.4 in January 2020 before the COVID-19 pandemic.
- Weekly hours dropped to a low of 16.3 in April 2020 due to lockdowns.
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 sector in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor market conditions and economic activity in the service industry, which is a key part of Delaware's economy.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to assess the state of the Delaware service economy and make informed decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of one to two months.
Related Trends
Gross Domestic Product: Real Estate and Rental and Leasing (53) in Delaware
DERERENTLEANGSP
Chain-Type Quantity Index for Real GDP: Plastics and Rubber Products Manufacturing (326) in Delaware
DEPLASRUBMANQGSP
Real Gross Domestic Product: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in Delaware
DEFRBCIRGSP
Gross Domestic Product: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in Delaware
DEFRBCINGSP
State Government Tax Collections, Public Utilities Licenses in Delaware
DEUTILLICTAX
Chain-Type Quantity Index for Real GDP: Private Services-Providing Industries in Delaware
DEPRISERVPROQGSP
Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Leisure and Hospitality in Delaware (SMU10000007000000002A), retrieved from FRED.