Average Weekly Earnings of Production Employees: Leisure and Hospitality: Food Services and Drinking Places in Minnesota
SMU27000007072200030 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
402.01
Year-over-Year Change
9.84%
Date Range
1/1/2001 - 7/1/2025
Summary
This economic trend measures average weekly earnings for production employees in the leisure and hospitality industry, specifically food services and drinking places, in the state of Minnesota. It provides insights into wage dynamics within this important 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: Leisure and Hospitality: Food Services and Drinking Places in Minnesota metric tracks the average weekly compensation for non-managerial workers in this industry and geographic area. It is a key indicator of economic conditions and labor market trends in Minnesota's service sector.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is widely used by economists, policymakers, and industry analysts to monitor Minnesota's economic performance and labor market dynamics.
Key Facts
- Minnesota's food services and drinking places industry employs over 300,000 workers.
- Average weekly earnings in this sector have risen by 20% over the past 5 years.
- The leisure and hospitality industry accounts for 10% of Minnesota's total employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of production employees in the leisure and hospitality industry, specifically food services and drinking places, in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into wage dynamics and labor market conditions within an important sector of Minnesota's economy, which is crucial for economic analysis and policymaking.
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: This trend is widely used by economists, policymakers, and industry analysts to monitor Minnesota's economic performance and labor market dynamics, which informs policy decisions and market strategies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-month lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of Production Employees: Leisure and Hospitality: Food Services and Drinking Places in Minnesota (SMU27000007072200030), retrieved from FRED.