Average Weekly Earnings of All Employees: Leisure and Hospitality in Utah
SMU49000007000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
509.14
Year-over-Year Change
67.34%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic trend measures the average weekly earnings of all employees in the leisure and hospitality industry in Utah. It provides insights into the compensation levels and economic conditions within this key 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 All Employees: Leisure and Hospitality in Utah series tracks the average weekly wages paid to workers in Utah's leisure and hospitality industry. This metric is used by economists and policymakers to assess labor market trends and the relative strength of the state's tourism and service sectors.
Methodology
The data is collected through surveys of businesses and establishments in Utah.
Historical Context
Monitoring this trend can inform decisions around economic development, workforce planning, and policies affecting the leisure and hospitality industry.
Key Facts
- Utah's leisure and hospitality industry employs over 150,000 workers.
- Average weekly earnings in this sector are around $500.
- The industry accounts for approximately 10% of Utah's total employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all employees in the leisure and hospitality industry in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the compensation levels and economic conditions within Utah's tourism and service sectors, which are important drivers of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments in Utah.
Q: How is this trend used in economic policy?
A: Monitoring this trend can inform decisions around economic development, workforce planning, and policies affecting the leisure and hospitality industry in Utah.
Q: Are there update delays or limitations?
A: The data is published monthly, with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Leisure and Hospitality in Utah (SMU49000007000000011A), retrieved from FRED.