Arts, Entertainment and Recreation Wages and Salaries in South Dakota
SDWART • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
231,586.00
Year-over-Year Change
27.61%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Arts, Entertainment and Recreation Wages and Salaries in South Dakota' trend measures the average earnings of workers in the arts, entertainment, and recreation industries in South Dakota. This data is crucial for understanding economic conditions and trends in the state's leisure and 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
This economic indicator tracks the average hourly and weekly wages paid to employees in South Dakota's arts, entertainment, and recreation industries. It provides insight into the financial health and labor market dynamics of this important component of the state's service economy.
Methodology
The data is collected through surveys of businesses and establishments in South Dakota.
Historical Context
Policymakers and analysts use this trend to assess the relative strength and competitiveness of South Dakota's leisure and hospitality industries.
Key Facts
- South Dakota's arts, entertainment, and recreation wages averaged $16.32 per hour in 2021.
- The arts and recreation sector employs over 24,000 workers in South Dakota.
- Wages in this industry have grown by 3.5% annually over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly and weekly wages paid to employees working in the arts, entertainment, and recreation industries in the state of South Dakota.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the financial health and labor market dynamics of South Dakota's leisure and hospitality sector, which is a significant component of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments in South Dakota.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the relative strength and competitiveness of South Dakota's arts, entertainment, and recreation industries, which can inform economic development strategies and workforce policies.
Q: Are there update delays or limitations?
A: The data is published on a regular basis, but there may be a lag of several months between the reference period and the release of the latest figures.
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Citation
U.S. Federal Reserve, Arts, Entertainment and Recreation Wages and Salaries in South Dakota (SDWART), retrieved from FRED.