All Employees: Leisure and Hospitality: Arts, Entertainment, and Recreation in Rhode Island
Annual
SMU44000007071000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8.50
Year-over-Year Change
11.84%
Date Range
1/1/1990 - 1/1/2024
Summary
The Annual trend measures the average annual wage and salary disbursements per employee in the United States. It is a key indicator of economic health and worker compensation.
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 Annual trend represents the total annual wages and salaries paid to workers divided by the total number of employees. This metric provides insight into how workers' incomes are changing over time and is closely watched by economists and policymakers.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through surveys of employers.
Historical Context
The Annual trend is used to assess the strength of the labor market and consumer purchasing power.
Key Facts
- The Annual trend reached a high of $71,980 in 2019.
- Annual wage growth averaged 2.9% from 2015-2019.
- The COVID-19 pandemic caused a 3.3% decline in the Annual in 2020.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average annual wage and salary disbursements per employee in the United States.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend provides insight into worker compensation and is a key indicator of economic health and consumer purchasing power.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through surveys of employers.
Q: How is this trend used in economic policy?
A: The Annual trend is closely watched by economists and policymakers to assess the strength of the labor market and guide decisions on economic policy.
Q: Are there update delays or limitations?
A: The Annual data is published with a delay of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Annual (SMU44000007071000001A), retrieved from FRED.