Average Weekly Hours of All Employees: Leisure and Hospitality in Missouri
SMU29000007000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
22.60
Year-over-Year Change
-11.37%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Hours of All Employees: Leisure and Hospitality in Missouri is an economic indicator that measures the average number of hours worked per week by employees in the leisure and hospitality sector in Missouri. This metric provides insight into the labor market 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 economic series tracks the average weekly hours worked by all employees, including both full-time and part-time workers, in the leisure and hospitality sector in Missouri. It is an important gauge of economic conditions and can inform policy decisions related to employment, labor supply, and consumer demand.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to assess the strength of Missouri's service-based economy and make informed decisions about economic policy.
Key Facts
- Missouri's leisure and hospitality sector employs over 300,000 workers.
- Average weekly hours in this sector have fluctuated between 25 and 30 hours since 2015.
- The COVID-19 pandemic significantly reduced average weekly hours in 2020.
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 Missouri.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the labor market and economic activity in Missouri's service industries, which is useful for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the strength of Missouri's service-based economy and make informed decisions about economic policy.
Q: Are there update delays or limitations?
A: The data is published monthly with a short delay, and may be subject to revisions by the Bureau of Labor Statistics.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Leisure and Hospitality in Missouri (SMU29000007000000002A), retrieved from FRED.