Average Hourly Earnings of All Employees: Leisure and Hospitality in Missouri
SMU29000007000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20.24
Year-over-Year Change
66.72%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Hourly Earnings of All Employees: Leisure and Hospitality in Missouri trend measures the average hourly wages for workers in the leisure and hospitality industry in the state of Missouri. This metric is a key indicator of labor market conditions and consumer spending power 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 Missouri. It provides insights into the compensation levels and economic vitality of an important service industry within the state.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this trend to assess the strength of Missouri's service economy and make informed decisions.
Key Facts
- The leisure and hospitality sector accounts for over 10% of Missouri's total employment.
- Wages in this industry have grown by 4% annually over the past 5 years.
- Missouri's average leisure and hospitality wage is 15% below the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wages paid to all employees in the leisure and hospitality industry in the state of Missouri.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the compensation levels and economic health of an important service sector in Missouri, which is vital for analyzing the state's labor market and consumer spending trends.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers 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 strength of Missouri's service economy and make informed decisions about economic development, consumer protection, and workforce policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of 1-2 months from the reference period.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Leisure and Hospitality in Missouri (SMU29000007000000003A), retrieved from FRED.