Average Weekly Hours of All Employees: Leisure and Hospitality in Alabama
SMU01000007000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
24.50
Year-over-Year Change
-8.24%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Hours of All Employees: Leisure and Hospitality in Alabama metric tracks the average number of hours worked per week by employees in the leisure and hospitality sector in the state of Alabama. This data provides insight into labor market conditions and economic activity in this important 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
The Average Weekly Hours of All Employees: Leisure and Hospitality in Alabama data series measures the average number of hours worked per week by all employees in the leisure and hospitality sector, which includes industries such as hotels, restaurants, arts, entertainment, and recreation. This metric is used by economists and policymakers to assess labor market trends and gauge the health of the broader Alabama economy.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in average weekly hours can inform decisions by businesses, consumers, and policymakers regarding economic conditions and the labor market.
Key Facts
- Alabama's leisure and hospitality sector employs over 200,000 workers.
- The average weekly hours in this sector have remained relatively stable over the past decade.
- Fluctuations in average weekly hours can signal changes in economic activity and labor demand.
FAQs
Q: What does this economic trend measure?
A: The Average Weekly Hours of All Employees: Leisure and Hospitality in Alabama metric tracks the average number of hours worked per week by employees in the leisure and hospitality sector in the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into labor market conditions and economic activity in the important leisure and hospitality industry, which is a significant contributor to Alabama'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: Trends in average weekly hours can inform decisions by businesses, consumers, and policymakers regarding economic conditions and the labor market in Alabama.
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 Alabama (SMU01000007000000002A), retrieved from FRED.