Average Weekly Hours of All Employees: Leisure and Hospitality in Mississippi
SMU28000007000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26.80
Year-over-Year Change
-3.94%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Weekly Hours of All Employees: Leisure and Hospitality in Mississippi' measures the average weekly hours worked by employees in the leisure and hospitality sector in Mississippi. This metric provides insight into labor market trends and consumer activity in the state's service industries.
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 tracks the average number of hours worked per week by all employees in the leisure and hospitality industry within Mississippi. It is an important indicator of economic activity and consumer demand, as well as labor market conditions in this key service sector.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to gauge the health of Mississippi's service economy and make informed decisions.
Key Facts
- The series has been tracked since 2007.
- The average workweek in Mississippi's leisure and hospitality sector is typically lower than the national average.
- This metric is a leading indicator of consumer spending and tourism trends in the state.
FAQs
Q: What does this economic trend measure?
A: This series measures the average number of hours worked per week by all employees in the leisure and hospitality industry within Mississippi.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor market trends and consumer activity in Mississippi's service industries, which is useful for policymakers and analysts.
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 metric to gauge the health of Mississippi's service economy and make informed decisions.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with typical publication delays.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Leisure and Hospitality in Mississippi (SMU28000007000000002A), retrieved from FRED.