Average Weekly Hours of All Employees: Leisure and Hospitality in Hawaii
SMU15000007000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
27.90
Year-over-Year Change
-6.69%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Hours of All Employees: Leisure and Hospitality in Hawaii metric tracks the average number of hours worked per week by employees in the leisure and hospitality industry in Hawaii. This data provides insights into workforce trends and labor market conditions in a key sector of the state's economy.
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 measures the average weekly hours for all employees in the leisure and hospitality industry in Hawaii, which includes accommodation, food services, arts, entertainment, and recreation. It is a useful indicator of economic activity and labor market trends in this important service sector.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is used by policymakers, economists, and analysts to monitor the health of Hawaii's tourism-dependent economy.
Key Facts
- Hawaii's leisure and hospitality industry accounts for over 20% of the state's employment.
- Weekly hours in this sector tend to be higher than the national average.
- The metric tracks workforce trends that impact consumer spending and tourism revenue.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average number of hours worked per week by employees in the leisure and hospitality industry in Hawaii, which includes accommodation, food services, arts, entertainment, and recreation.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into workforce trends and labor market conditions in a key sector of Hawaii's economy, which is heavily dependent on tourism and related services.
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: This metric is used by policymakers, economists, and analysts to monitor the health of Hawaii's tourism-dependent economy and inform decisions related to economic development, labor market policies, and tourism promotion.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of several weeks, so there may be some delay in reflecting the most recent labor market conditions.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Leisure and Hospitality in Hawaii (SMU15000007000000002A), retrieved from FRED.