Labor Compensation: Earnings: Industry: Monthly for Luxembourg
Monthly, Not Seasonally Adjusted
LCEAIN03LUM661N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
108.54
Year-over-Year Change
7.19%
Date Range
1/1/1980 - 9/1/2023
Summary
This economic trend measures the average hourly earnings of production and nonsupervisory employees in the leisure and hospitality industry. It provides insights into wage growth and labor market conditions in this important economic 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
The Average Hourly Earnings of Production and Nonsupervisory Employees in Leisure and Hospitality (LCEAIN03LUM661N) is a key indicator of labor costs and inflationary pressures in the leisure and hospitality industry. Economists and policymakers use this data to assess the health of the service sector and broader economic trends.
Methodology
The data is collected through surveys of U.S. businesses by the Bureau of Labor Statistics.
Historical Context
This metric is closely watched by the Federal Reserve and other policymakers to help inform monetary policy decisions.
Key Facts
- The leisure and hospitality industry accounts for over 15% of U.S. private sector employment.
- Wages in this sector tend to be lower than the overall private sector average.
- Hourly earnings have risen steadily in recent years as the labor market has tightened.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of production and nonsupervisory employees in the U.S. leisure and hospitality industry, which includes sectors like hotels, restaurants, and entertainment.
Q: Why is this trend relevant for users or analysts?
A: The leisure and hospitality industry is a significant part of the U.S. economy, so this wage data provides important insights into labor market conditions and inflationary pressures in a key service sector.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of U.S. businesses conducted by the Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Federal Reserve and other policymakers closely monitor this metric to help inform monetary policy decisions and assess the overall health of the U.S. economy.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical lag of around one month. There may be limitations in coverage or sampling that affect the precision of the estimates.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production and Nonsupervisory Employees in Leisure and Hospitality (LCEAIN03LUM661N), retrieved from FRED.