Average Weekly Hours of All Employees: Leisure and Hospitality in Massachusetts
SMU25000007000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25.10
Year-over-Year Change
-3.46%
Date Range
1/1/2007 - 1/1/2024
Summary
The average weekly hours trend for leisure and hospitality workers in Massachusetts measures the typical number of hours worked per week by employees in the leisure and hospitality industry in the state. This provides insights into labor market conditions and consumer demand.
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 economic indicator tracks the average number of hours worked per week by all employees in the leisure and hospitality sector, which includes industries like hotels, restaurants, and entertainment. It is a useful gauge of activity levels and workforce utilization in this key part of the Massachusetts economy.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and businesses monitor this trend to understand consumer spending patterns and make informed decisions.
Key Facts
- Massachusetts has a large leisure and hospitality sector.
- Weekly hours reflect changes in consumer demand.
- The trend helps gauge economic conditions in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by all employees in the leisure and hospitality industry in Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into labor market conditions and consumer demand patterns in a key sector of the Massachusetts economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and businesses monitor this trend to understand consumer spending patterns and make informed decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a short lag time, providing timely information on this economic indicator.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Leisure and Hospitality in Massachusetts (SMU25000007000000002A), retrieved from FRED.