Average Weekly Earnings of All Employees: Leisure and Hospitality in Idaho
SMU16000007000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
450.60
Year-over-Year Change
68.31%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic indicator tracks the average weekly earnings of all employees in the leisure and hospitality industry in Idaho. It provides insights into labor market conditions and worker compensation trends in this key 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 Weekly Earnings of All Employees: Leisure and Hospitality in Idaho is a key economic metric that measures the average weekly earnings of workers in the leisure and hospitality industry within the state of Idaho. It serves as an important barometer for understanding labor market dynamics and trends in worker compensation in this pivotal service sector.
Methodology
The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This indicator is closely watched by policymakers, economists, and industry analysts to gauge the health and competitiveness of Idaho's leisure and hospitality labor market.
Key Facts
- Idaho's leisure and hospitality sector employs over 90,000 workers.
- Average weekly earnings in this industry are below the national average.
- The sector has experienced strong job growth in recent years.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the average weekly earnings of all employees working in the leisure and hospitality industry within the state of Idaho.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into labor market conditions and worker compensation trends in Idaho's crucial leisure and hospitality sector, which is a major driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and industry analysts closely monitor this indicator to gauge the health and competitiveness of Idaho's leisure and hospitality labor market, which informs economic policies and decision-making.
Q: Are there update delays or limitations?
A: This data is released on a monthly basis with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Leisure and Hospitality in Idaho (SMU16000007000000011A), retrieved from FRED.