Average Weekly Hours of All Employees: Leisure and Hospitality in Virginia
SMU51000007000000002 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25.70
Year-over-Year Change
1.58%
Date Range
1/1/2007 - 6/1/2025
Summary
The 'Average Weekly Hours of All Employees: Leisure and Hospitality in Virginia' trend measures the average number of hours worked per week by employees in the leisure and hospitality sector in Virginia. This metric provides insights into labor market conditions and economic activity in the state's service 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 series tracks the average weekly hours worked by all employees in Virginia's leisure and hospitality sector, which includes industries like hotels, restaurants, arts, entertainment, and recreation. It is a key indicator of labor market trends and can signal changes in consumer demand, business operations, and economic conditions within the service industry.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists use this metric to assess the health of Virginia's service economy and make informed decisions about economic policies and programs.
Key Facts
- Virginia's leisure and hospitality sector employs over 450,000 people.
- The average weekly hours in this sector have fluctuated between 25-30 hours in recent years.
- The COVID-19 pandemic significantly reduced average weekly hours in the Virginia leisure and hospitality sector.
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 in Virginia, which includes industries like hotels, restaurants, arts, entertainment, and recreation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor market conditions and economic activity in Virginia's service industry, which is a key driver of the state's 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 economists use this metric to assess the health of Virginia's service economy and make informed decisions about economic policies and programs.
Q: Are there update delays or limitations?
A: The data is updated monthly by the U.S. Bureau of Labor Statistics, but there may be some delays in reporting.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Leisure and Hospitality in Virginia (SMU51000007000000002), retrieved from FRED.