Accommodation and Food Services Earnings in Florida
FLEACC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
50,499,352.00
Year-over-Year Change
25.67%
Date Range
1/1/1998 - 1/1/2025
Summary
The Accommodation and Food Services Earnings in Florida trend measures average weekly earnings for workers in the state's hospitality industry. This data provides insight into economic conditions and labor market dynamics in a 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
This series tracks average weekly earnings for employees in Florida's accommodation and food services industries, which includes hotels, restaurants, bars, and other hospitality businesses. It is a useful indicator of wage growth and labor market tightness in a major part of the state's economy.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Quarterly Census of Employment and Wages program.
Historical Context
Policymakers and analysts monitor this trend to understand broader economic and employment trends in Florida.
Key Facts
- Florida's accommodation and food services sector employs over 1 million workers.
- Average weekly earnings in this industry were $496 as of the latest data.
- Earnings have grown by 4.2% over the past year.
FAQs
Q: What does this economic trend measure?
A: This trend measures average weekly earnings for workers in Florida's accommodation and food services industries, including hotels, restaurants, and other hospitality businesses.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into wage growth and labor market conditions in a key sector of Florida's economy, which is important for understanding broader economic and employment trends in the state.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Quarterly Census of Employment and Wages program.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to understand labor market dynamics and economic conditions in Florida's important hospitality industry.
Q: Are there update delays or limitations?
A: This data is published quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Accommodation and Food Services Earnings in Florida (FLEACC), retrieved from FRED.