Accommodation and Food Services Wages and Salaries in Louisiana
LAWACC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,980,273.00
Year-over-Year Change
19.13%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Accommodation and Food Services Wages and Salaries in Louisiana' metric tracks earnings for workers in the state's hospitality industry. This data provides insights into labor costs and economic conditions 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 measures the average weekly wages and salaries for employees in Louisiana's accommodation and food services industries. It is a valuable indicator of broader economic trends, as the hospitality sector is a major employer and consumer of goods and services.
Methodology
The data is collected through the Quarterly Census of Employment and Wages program administered by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists analyze this metric to assess the health of Louisiana's service-based economy and consumer spending patterns.
Key Facts
- Louisiana's accommodation and food services sector employs over 250,000 workers.
- Average weekly wages in this industry have risen by 20% over the past decade.
- The hospitality sector accounts for nearly 10% of Louisiana's total economic output.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average weekly wages and salaries earned by employees in Louisiana's accommodation and food services industries.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into labor costs and economic conditions in a key sector of Louisiana's service-based economy.
Q: How is this data collected or calculated?
A: The data is collected through the Quarterly Census of Employment and Wages program administered by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this metric to assess the health of Louisiana's service-based economy and consumer spending patterns.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months.
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Citation
U.S. Federal Reserve, Accommodation and Food Services Wages and Salaries in Louisiana (LAWACC), retrieved from FRED.