Average Hourly Earnings of Production Employees: Accommodation and Food Services in Indiana
SMU18000007072000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16.01
Year-over-Year Change
66.08%
Date Range
1/1/2003 - 1/1/2024
Summary
This trend measures the average hourly earnings of production employees in the accommodation and food services industry in Indiana. It provides insight into labor costs and economic conditions in this key service 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 Hourly Earnings of Production Employees: Accommodation and Food Services in Indiana series tracks the average hourly wage for workers in the accommodation and food services industry in the state of Indiana. This metric is used by economists and policymakers to analyze labor market trends and cost pressures in the service sector.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is relevant for understanding the Indiana labor market and economic conditions affecting the accommodation and food services industry.
Key Facts
- Data is reported monthly.
- Indiana has a large accommodation and food services industry.
- Wages in this sector can indicate broader economic trends.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wages earned by production employees in the accommodation and food services industry in the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor costs and economic conditions in a key service sector, which is useful for economists, policymakers, and businesses.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze labor market dynamics and cost pressures in the accommodation and food services industry, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is reported monthly, with no significant update delays.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Accommodation and Food Services in Indiana (SMU18000007072000008A), retrieved from FRED.