Average Weekly Hours of All Employees: Leisure and Hospitality in Wisconsin
SMU55000007000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21.20
Year-over-Year Change
-5.78%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Hours of All Employees: Leisure and Hospitality in Wisconsin trend measures the average number of hours worked per week by employees in the leisure and hospitality sector in the state of Wisconsin. This metric 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 economic indicator tracks the average weekly hours worked by all employees, including both full-time and part-time workers, in the leisure and hospitality industry in Wisconsin. It is a useful gauge of economic health and consumer demand in the state's tourism, recreation, and service sectors.
Methodology
The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this trend to monitor labor market dynamics and consumer spending patterns in Wisconsin's service economy.
Key Facts
- Wisconsin's leisure and hospitality sector employs over 300,000 workers.
- Average weekly hours peaked at 28.1 in July 2019 before declining during the COVID-19 pandemic.
- The trend provides insights into labor market flexibility and consumer demand in Wisconsin.
FAQs
Q: What does this economic trend measure?
A: The Average Weekly Hours of All Employees: Leisure and Hospitality in Wisconsin trend measures the average number of hours worked per week by employees in the leisure and hospitality sector in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into labor market conditions and economic activity in Wisconsin's service industries, which are important indicators of the state's overall economic health and consumer demand.
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 analysts use this trend to monitor labor market dynamics and consumer spending patterns in Wisconsin's service economy, which can inform policy decisions and economic forecasting.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Leisure and Hospitality in Wisconsin (SMU55000007000000002A), retrieved from FRED.