Average Weekly Earnings of Production Employees: Accommodation and Food Services in Indiana
SMU18000007072000030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
382.64
Year-over-Year Change
66.78%
Date Range
1/1/2003 - 1/1/2024
Summary
This trend measures the average weekly earnings of production employees in the accommodation and food services industry in Indiana. It provides insights into wage trends and the economic conditions within this 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 Production Employees: Accommodation and Food Services in Indiana metric tracks the average weekly earnings of workers in the accommodation and food services industry in the state of Indiana. This data point is a key indicator of the economic health and labor market conditions within this important service sector.
Methodology
The data is collected through surveys of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by economists, policymakers, and industry analysts to assess the strength of the service economy and consumer spending patterns.
Key Facts
- Indiana's accommodation and food services industry employs over 300,000 workers.
- Wages in this sector have risen by 20% over the past 5 years.
- The industry accounts for nearly 10% of Indiana's total employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of 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 wage trends and the economic conditions within Indiana's important service sector, which is closely watched by economists, policymakers, and industry analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and economists to assess the strength of the service economy and consumer spending patterns in Indiana.
Q: Are there update delays or limitations?
A: The data is published monthly with a short lag, and may be subject to revisions over time.
Related Trends
State Government Tax Collections, Total License Taxes in Indiana
INTLLICTAX
90% Confidence Interval Upper Bound of Estimate of Percent of People Under Age 5 in Poverty for Indiana
PPCIUB0T4IN18000A156NCEN
Chain-Type Quantity Index for Real GDP: Professional and Business Services (54, 55, 56) in Indiana
INPROBUSQGSP
Average Weekly Earnings of All Employees: Other Services in Indiana
SMU18000008000000011A
Real Gross Domestic Product: State and Local in Indiana
INGOVSLRGSP
Regional Price Parities: All Items: Nonmetropolitan Portion for Indiana
INNMPRPPALL
Citation
U.S. Federal Reserve, Average Weekly Earnings of Production Employees: Accommodation and Food Services in Indiana (SMU18000007072000030A), retrieved from FRED.