Accommodation and Food Services Earnings in Arkansas
AREACC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,736,309.00
Year-over-Year Change
20.04%
Date Range
1/1/1998 - 1/1/2025
Summary
The Accommodation and Food Services Earnings in Arkansas measures the average weekly earnings in the state's accommodation and food services sector. This metric provides insights into wage trends and economic conditions in a key 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
The Accommodation and Food Services Earnings in Arkansas series tracks the average weekly earnings of workers in the state's hotels, restaurants, and other hospitality businesses. This data is useful for analyzing labor market dynamics, consumer spending patterns, and the overall health of the service economy in Arkansas.
Methodology
The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists monitor this trend to gauge the strength of consumer-facing sectors and make informed decisions.
Key Facts
- Arkansas's accommodation and food services sector employs over 150,000 workers.
- Earnings in this industry have grown by 25% over the past decade.
- The industry accounts for approximately 10% of the state's total employment.
FAQs
Q: What does this economic trend measure?
A: The Accommodation and Food Services Earnings in Arkansas measures the average weekly earnings of workers in the state's hotels, restaurants, and other hospitality businesses.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into wage trends and economic conditions in a key service industry, which is important for analyzing labor market dynamics, consumer spending patterns, and the overall health of the Arkansas economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to gauge the strength of consumer-facing sectors and make informed decisions about economic policy.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical delay of several weeks.
Related Trends
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ARAMUSENGSP
Imports of Goods: Manufactured Commodities for Arkansas
IMPMANAR
Chain-Type Quantity Index for Real GDP: Arts, Entertainment, and Recreation (71) in Arkansas
ARARTENTRECQGSP
Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in Arkansas
AROTHTRANNGSP
Chain-Type Quantity Index for Real GDP: Educational Services, Health Care, and Social Assistance (61, 62) in Arkansas
AREDHLTHSOCASSQGSP
Real Gross Domestic Product: Retail Trade (44-45) in Arkansas
ARRETAILRQGSP
Citation
U.S. Federal Reserve, Accommodation and Food Services Earnings in Arkansas (AREACC), retrieved from FRED.