Accommodation and Food Services Wages and Salaries in South Dakota
SDWACC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,195,675.00
Year-over-Year Change
17.71%
Date Range
1/1/1998 - 1/1/2025
Summary
This economic trend measures wages and salaries paid in the accommodation and food services industry in South Dakota. It is an important indicator of economic activity and labor market conditions in the state's hospitality 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 Accommodation and Food Services Wages and Salaries in South Dakota series tracks the total compensation, including wages and salaries, paid to workers in hotels, restaurants, and other hospitality businesses across the state. This data provides valuable insights into the strength and trends of a key industry in South Dakota's economy.
Methodology
The data is collected and published by the U.S. Bureau of Labor Statistics through its Quarterly Census of Employment and Wages program.
Historical Context
Policymakers, businesses, and economists use this trend to assess the health and outlook of South Dakota's hospitality industry.
Key Facts
- South Dakota's accommodation and food services wages have increased by 25% over the past 5 years.
- The hospitality industry accounts for over 10% of total employment in South Dakota.
- Wages in this sector are typically lower than the statewide average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total wages and salaries paid to workers in the accommodation and food services industry in the state of South Dakota.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insights into the strength and performance of a key industry in South Dakota's economy, which is important for policymakers, businesses, and economists to monitor.
Q: How is this data collected or calculated?
A: The data is collected and published by the U.S. Bureau of Labor Statistics through its Quarterly Census of Employment and Wages program.
Q: How is this trend used in economic policy?
A: Policymakers, businesses, and economists use this trend to assess the health and outlook of South Dakota's hospitality industry, which is an important contributor to the state's economy.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis, with a typical 2-3 month delay from the end of the reference period.
Related Trends
Estimated Percent of People Age 0-17 in Poverty for South Dakota
PPU18SD46000A156NCEN
Chain-Type Quantity Index for Real GDP: Transit and Ground Passenger Transportation (485) in South Dakota
SDTRANGRNDTRANQGSP
State Government Tax Collections, Severance Taxes in South Dakota
SDSVRNCTAX
Real Gross Domestic Product: Chemical Manufacturing (325) in South Dakota
SDCHEMMANRGSP
Real Gross Domestic Product: Oil and Gas Extraction (211) in South Dakota
SDOILGASRGSP
Real Gross Domestic Product: Fabricated Metal Product Manufacturing (332) in South Dakota
SDFABRMETRGSP
Citation
U.S. Federal Reserve, Accommodation and Food Services Wages and Salaries in South Dakota (SDWACC), retrieved from FRED.