Average Weekly Hours of All Employees: Leisure and Hospitality in North Dakota
SMU38000007000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
22.40
Year-over-Year Change
-3.45%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic indicator tracks the average weekly hours worked by all employees in the leisure and hospitality industry in North Dakota. It provides insights into labor market conditions and economic activity in this key sector.
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
The Average Weekly Hours of All Employees: Leisure and Hospitality in North Dakota metric measures the average number of hours per week worked by employees in North Dakota's leisure and hospitality industries. This data is used by economists and policymakers to assess labor market trends and the broader economic health of the state.
Methodology
The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in average weekly hours can inform decisions around employment, consumer spending, and economic policy in North Dakota.
Key Facts
- North Dakota's leisure and hospitality industry employs over 50,000 workers.
- The average workweek in this sector is around 25 hours per week.
- Weekly hours in leisure and hospitality are highly seasonal in North Dakota.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the average number of hours per week worked by employees in North Dakota's leisure and hospitality industries, such as hotels, restaurants, and entertainment establishments.
Q: Why is this trend relevant for users or analysts?
A: Trends in average weekly hours in the leisure and hospitality sector provide insights into labor market conditions, consumer demand, and the broader economic health of North Dakota.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to inform decisions around employment, consumer spending, and economic development in North Dakota.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of several weeks. Seasonal variations may affect interpretation of the trend.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Leisure and Hospitality in North Dakota (SMU38000007000000002A), retrieved from FRED.