Average Weekly Hours of All Employees: Leisure and Hospitality in Louisiana
SMU22000007000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26.80
Year-over-Year Change
-1.11%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Hours of All Employees: Leisure and Hospitality in Louisiana measures the average hours worked per week in the leisure and hospitality sector in Louisiana. This trend provides insights into labor market conditions and economic activity in the state's service industries.
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 number of hours worked per week by all employees in the leisure and hospitality sector in Louisiana. It is a key indicator of economic activity and employment trends in the state's service-oriented industries, including hotels, restaurants, arts, entertainment, and recreation.
Methodology
The data is collected through monthly surveys of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists use this trend to assess the health of Louisiana's service economy and make informed decisions about economic policies.
Key Facts
- The average weekly hours in Louisiana's leisure and hospitality sector have fluctuated between 25 and 30 hours since 2010.
- The sector's weekly hours declined sharply during the COVID-19 pandemic but have since recovered to pre-pandemic levels.
- Louisiana's leisure and hospitality industry accounts for over 10% of the state's total employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by all employees in the leisure and hospitality sector in Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the health and activity of Louisiana's service-oriented industries, which are crucial for understanding the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the strength of Louisiana's service economy and inform decisions about economic policies and initiatives.
Q: Are there update delays or limitations?
A: The data is released with a lag of approximately one month by the U.S. Bureau of Labor Statistics.
Related Trends
Housing Inventory: Median Days on Market Year-Over-Year in Louisiana
MEDDAYONMARYYLA
Per Capita Personal Consumption Expenditures: Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption for Louisiana
LAPCEPCFOOD
Commercial Carbon Dioxide Emissions, All Fuels for Louisiana
EMISSCO2TOTVCCTOLAA
People 25 Years and Over Who Have Completed a Graduate or Professional Degree for Louisiana
GCT1503LA
Chain-Type Quantity Index for Real GDP: Management of Companies and Enterprises (55) in Louisiana
LAMNGCOENTPRQGSP
Number of Commercial Banks in Louisiana
X08CBTLA
Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Leisure and Hospitality in Louisiana (SMU22000007000000002A), retrieved from FRED.