Average Weekly Hours of All Employees: Leisure and Hospitality in North Carolina
SMU37000007000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25.20
Year-over-Year Change
-1.18%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Weekly Hours of All Employees: Leisure and Hospitality in North Carolina' trend measures the average number of hours worked per week by employees in the leisure and hospitality sector within North Carolina. This metric provides insights into the labor dynamics and productivity of a key 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 economic indicator tracks the average weekly work hours for all employees in the leisure and hospitality sector in North Carolina. It is used by economists and policymakers to analyze labor market trends, productivity, and the health of the service industry within the state.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is relevant for understanding the North Carolina labor market and informing economic and workforce development policies.
Key Facts
- North Carolina is a major hub for leisure and hospitality in the Southeast.
- This trend helps track the health of a key service-based industry in the state.
- Average weekly hours can signal changes in labor demand and workforce productivity.
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 within North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the labor dynamics and productivity of a key service-based industry, which is important for understanding the North Carolina 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: This trend is relevant for understanding the North Carolina labor market and informing economic and workforce development policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Leisure and Hospitality in North Carolina (SMU37000007000000002A), retrieved from FRED.