Average Weekly Hours of All Employees: Leisure and Hospitality in the District of Columbia
SMU11000007000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
28.50
Year-over-Year Change
-5.00%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Hours of All Employees: Leisure and Hospitality in the District of Columbia is an important economic indicator that measures the average number of hours worked per week by employees in the leisure and hospitality sector in the nation's capital.
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 metric provides insights into the labor dynamics and productivity of the District's tourism and service-based industries, which are crucial to the local economy. It is used by economists and policymakers to assess employment trends and gauge the health of the Washington, D.C. labor market.
Methodology
The data is collected through surveys of businesses and establishments in the leisure and hospitality sector within the District of Columbia.
Historical Context
This trend is closely monitored by the Federal Reserve and other agencies to inform economic and monetary policy decisions.
Key Facts
- The leisure and hospitality sector accounts for over 10% of total employment in the District of Columbia.
- Average weekly hours in this sector have fluctuated between 25 and 29 hours over the past decade.
- Trends in this metric are closely tied to tourism and business travel activity in the nation's capital.
FAQs
Q: What does this economic trend measure?
A: The Average Weekly Hours of All Employees: Leisure and Hospitality in the District of Columbia measures the average number of hours worked per week by employees in the leisure and hospitality sector in Washington, D.C.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the labor dynamics and productivity of the District's tourism and service-based industries, which are crucial to the local economy. It is used by economists and policymakers to assess employment trends and gauge the health of the Washington, D.C. labor market.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments in the leisure and hospitality sector within the District of Columbia.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by the Federal Reserve and other agencies to inform economic and monetary policy decisions regarding the Washington, D.C. metropolitan area.
Q: Are there update delays or limitations?
A: The data is subject to typical lags in business survey collection and reporting, with a delay of several weeks between the reference period and the release of the latest figures.
Related Trends
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Average Hourly Earnings of All Employees: Total Private in the District of Columbia
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Average Hourly Earnings of All Employees: Trade, Transportation, and Utilities in the District of Columbia
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All Employees: Leisure and Hospitality: Food Services and Drinking Places in District of Columbia
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Gross Domestic Product: Information (51) in the District of Columbia
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Leisure and Hospitality in the District of Columbia (SMU11000007000000002A), retrieved from FRED.