Accommodation and Food Services Earnings in South Carolina
SCEACC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,519,076.00
Year-over-Year Change
21.56%
Date Range
1/1/1998 - 1/1/2025
Summary
The Accommodation and Food Services Earnings in South Carolina trend measures average weekly earnings for workers in the state's hospitality and tourism industries. This metric provides insight into economic conditions and consumer spending patterns.
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 average weekly earnings for employees in South Carolina's accommodation and food services sector, which includes hotels, restaurants, bars, and other hospitality businesses. It is a key economic indicator used to analyze the strength of the state's tourism industry and consumer spending.
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 assess the health of South Carolina's service economy and its impact on the broader state economy.
Key Facts
- South Carolina's accommodation and food services sector employs over 280,000 workers.
- Average weekly earnings in this sector were $400 as of the latest data.
- Earnings in this industry have grown by 15% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures average weekly earnings for workers in South Carolina's accommodation and food services sector, which includes hotels, restaurants, bars, and other hospitality businesses.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the strength of South Carolina's tourism industry and consumer spending patterns, which are important drivers of the state's overall economic performance.
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 assess the health of South Carolina's service economy and its impact on the broader state economy.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis, so there may be a several month delay in the most recent figures.
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Citation
U.S. Federal Reserve, Accommodation and Food Services Earnings in South Carolina (SCEACC), retrieved from FRED.