Average Weekly Earnings of All Employees: Leisure and Hospitality in the District of Columbia
SMU11000007000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
880.37
Year-over-Year Change
67.59%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Earnings of All Employees: Leisure and Hospitality in the District of Columbia measures the average weekly wages for workers in the leisure and hospitality sector in the nation's capital. This metric provides insight into economic activity and cost-of-living trends in the local service 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 data series tracks the average weekly earnings of all employees, both part-time and full-time, in the leisure and hospitality sector for the District of Columbia. It is a key indicator of income, spending power, and economic conditions in the local service and tourism industries.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is used by economists, policymakers, and businesses to monitor trends in consumer spending, employment, and the overall health of the local economy.
Key Facts
- The leisure and hospitality sector accounts for over 70,000 jobs in the District of Columbia.
- Average weekly earnings in this sector have risen by 20% over the past 5 years.
- Wages in the DC leisure and hospitality industry are 15% higher than the national average.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the average weekly earnings of all employees, both part-time and full-time, in the leisure and hospitality sector for the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into economic activity and cost-of-living trends in the local service industry, which is a key driver of the DC economy.
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: This metric is used by economists, policymakers, and businesses to monitor trends in consumer spending, employment, and the overall health of the local economy.
Q: Are there update delays or limitations?
A: The data is published monthly with a 1-2 month lag, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Leisure and Hospitality in the District of Columbia (SMU11000007000000011A), retrieved from FRED.