Accommodation and Food Services Earnings in Wisconsin
WIEACC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,806,242.00
Year-over-Year Change
19.93%
Date Range
1/1/1998 - 1/1/2025
Summary
The Accommodation and Food Services Earnings in Wisconsin measures the average weekly earnings of workers in the accommodation and food services industry in the state of Wisconsin. This metric is important for economists and policymakers to assess the economic health of the hospitality 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
This series tracks the average weekly earnings of employees in the accommodation and food services industry in Wisconsin. It provides insight into wage trends and labor market conditions within this key component of the state's economy.
Methodology
The data is collected through the Quarterly Census of Employment and Wages (QCEW) program, a cooperative effort between the U.S. Bureau of Labor Statistics and state workforce agencies.
Historical Context
Policymakers and industry analysts use this metric to monitor the competitiveness and resilience of Wisconsin's hospitality sector.
Key Facts
- Wisconsin's accommodation and food services sector employed over 290,000 workers as of 2022.
- Average weekly earnings in this industry have risen by 25% in Wisconsin over the past decade.
- The hospitality sector accounts for approximately 10% of Wisconsin's total nonfarm employment.
FAQs
Q: What does this economic trend measure?
A: The Accommodation and Food Services Earnings in Wisconsin metric tracks the average weekly earnings of workers employed in the state's accommodation and food services industry.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insight into wage and labor market conditions within Wisconsin's critical hospitality sector, which is a major contributor to the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through the Quarterly Census of Employment and Wages (QCEW) program, a cooperative effort between the U.S. Bureau of Labor Statistics and state workforce agencies.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this metric to monitor the competitiveness and resilience of Wisconsin's hospitality sector, which is crucial for supporting tourism, economic growth, and employment in the state.
Q: Are there update delays or limitations?
A: The Accommodation and Food Services Earnings in Wisconsin data is released quarterly with a lag of approximately two to three months.
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Citation
U.S. Federal Reserve, Accommodation and Food Services Earnings in Wisconsin (WIEACC), retrieved from FRED.