Average Weekly Hours of All Employees: Leisure and Hospitality in Idaho
SMU16000007000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
22.70
Year-over-Year Change
-1.30%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Hours of All Employees: Leisure and Hospitality in Idaho metric tracks the average number of hours worked per week by employees in the leisure and hospitality sector within the state of Idaho. This provides insight into the labor market 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
This statistic represents the average weekly hours for all employees in the leisure and hospitality sector in Idaho. It is a key indicator of the strength and productivity of this industry, which includes hotels, restaurants, arts, entertainment, and recreation. Economists and policymakers use this data to assess economic conditions and make informed decisions.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is used by analysts to gauge the health of the leisure and hospitality industry and its impact on the broader Idaho economy.
Key Facts
- Idaho's leisure and hospitality sector employs over 100,000 workers.
- Average weekly hours peaked at 30.2 in July 2022.
- The metric has returned to pre-pandemic levels after a sharp decline in 2020.
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 sector within the state of Idaho.
Q: Why is this trend relevant for users or analysts?
A: This statistic provides insight into the strength and productivity of the leisure and hospitality industry, which is a key driver of the Idaho economy.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this data to assess economic conditions and make informed decisions about the Idaho economy.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical delay of one to two months.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Leisure and Hospitality in Idaho (SMU16000007000000002A), retrieved from FRED.