Average Hourly Earnings of All Employees: Leisure and Hospitality in Indiana
SMU18000007000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18.24
Year-over-Year Change
48.05%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Hourly Earnings of All Employees: Leisure and Hospitality in Indiana' trend measures the average hourly wage for leisure and hospitality workers in Indiana. This data is an important economic indicator for understanding labor market conditions and consumer spending 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 hourly earnings for all employees in the leisure and hospitality sector in the state of Indiana. It provides insight into wage growth and cost-of-living trends for a key industry that is sensitive to economic fluctuations.
Methodology
The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this trend to assess the health of Indiana's service-oriented economy and consumer demand.
Key Facts
- Indiana's leisure and hospitality sector employs over 300,000 workers.
- Hourly wages in this industry are typically lower than the statewide average.
- Wages have grown by over 20% in the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the average hourly wage for all employees in Indiana's leisure and hospitality sector, which includes industries like hotels, restaurants, and entertainment.
Q: Why is this trend relevant for users or analysts?
A: The leisure and hospitality industry is a significant part of Indiana's economy, so this wage data provides insight into labor market conditions and consumer spending power in the state.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses 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 health of Indiana's service-oriented economy and consumer demand.
Q: Are there update delays or limitations?
A: The data is released monthly with a lag of several weeks, so it may not reflect the most current economic conditions.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Leisure and Hospitality in Indiana (SMU18000007000000003A), retrieved from FRED.