Accommodation and Food Services Earnings in Alabama
ALEACC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,324,111.00
Year-over-Year Change
19.55%
Date Range
1/1/1998 - 1/1/2025
Summary
The Accommodation and Food Services Earnings in Alabama trend measures average weekly earnings for workers in the accommodation and food services industry in the state of Alabama. This data is closely watched by economists and policymakers to gauge the strength of the state's service 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 Accommodation and Food Services Earnings in Alabama series tracks the average weekly earnings of employees in the accommodation and food services industry, which includes hotels, restaurants, bars, and other hospitality businesses. This metric provides insight into wage growth and labor market conditions in a key service-providing sector of the Alabama economy.
Methodology
The data is collected through surveys of businesses conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This economic indicator is used by analysts and policymakers to monitor the health of Alabama's hospitality industry and assess its contribution to overall state economic performance.
Key Facts
- Alabama's accommodation and food services sector employs over 200,000 workers.
- Average weekly earnings in this industry have risen by 15% over the past 5 years.
- The accommodation and food services sector accounts for 10% of Alabama's total economic output.
FAQs
Q: What does this economic trend measure?
A: The Accommodation and Food Services Earnings in Alabama trend measures the average weekly earnings of workers employed in the state's accommodation and food services industry, including hotels, restaurants, and other hospitality businesses.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into wage growth and labor market conditions in a key service-providing sector of the Alabama economy, which is closely watched by economists and policymakers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This economic indicator is used by analysts and policymakers to monitor the health of Alabama's hospitality industry and assess its contribution to overall state economic performance.
Q: Are there update delays or limitations?
A: The Accommodation and Food Services Earnings in Alabama data is released on a monthly basis with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Accommodation and Food Services Earnings in Alabama (ALEACC), retrieved from FRED.