Average Weekly Hours of All Employees: Leisure and Hospitality in Maine
SMU23000007000000002 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
27.60
Year-over-Year Change
0.36%
Date Range
1/1/2007 - 7/1/2025
Summary
The 'Average Weekly Hours of All Employees: Leisure and Hospitality in Maine' metric tracks the average number of hours worked per week by employees in the leisure and hospitality industry in Maine. This provides insight into labor market trends and economic activity in this important 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
This series measures the average weekly hours worked by all employees in the leisure and hospitality industry in the state of Maine. It is a key indicator of labor demand and can signal changes in consumer spending and overall economic conditions.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This metric helps policymakers and analysts monitor the health of Maine's service economy.
Key Facts
- Maine's leisure and hospitality sector accounts for over 10% of the state's total employment.
- Weekly hours in this industry tend to peak during the summer tourist season.
- Average weekly hours declined sharply during the COVID-19 pandemic but have since rebounded.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average number of hours worked per week by employees in Maine's leisure and hospitality industry, providing insight into labor market conditions in this sector.
Q: Why is this trend relevant for users or analysts?
A: Changes in average weekly hours in leisure and hospitality can signal shifts in consumer spending and overall economic activity, making this a useful indicator for policymakers and market analysts.
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 metric to assess the health of Maine's service economy and make informed decisions about fiscal and monetary policy.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Leisure and Hospitality in Maine (SMU23000007000000002), retrieved from FRED.