Average Weekly Earnings of All Employees: Leisure and Hospitality in Arkansas
SMU05000007000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
436.74
Year-over-Year Change
66.36%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Weekly Earnings of All Employees: Leisure and Hospitality in Arkansas' trend measures the average weekly earnings of workers in the leisure and hospitality industry in Arkansas. This data is crucial for understanding economic conditions and labor market trends in the state.
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 tracks the average weekly earnings for all employees in the leisure and hospitality sector in Arkansas. It provides insight into wage levels and changes over time for a key industry, which is important for evaluating the state's economic performance and cost of living.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this trend to assess the financial well-being of Arkansas workers and the overall health of the state's tourism and service economy.
Key Facts
- Arkansas has a large leisure and hospitality sector, employing over 150,000 workers.
- Weekly earnings in this industry are typically lower than the state average.
- The trend has shown gradual increases in average weekly earnings over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all employees in the leisure and hospitality industry in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This data is important for understanding economic conditions and labor market trends in Arkansas, particularly for the tourism and service sectors.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the financial well-being of Arkansas workers and the overall health of the state's leisure and hospitality economy.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of about one month.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Leisure and Hospitality in Arkansas (SMU05000007000000011A), retrieved from FRED.