Accommodation and Food Services Wages and Salaries in Alabama
ALWACC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,252,398.00
Year-over-Year Change
20.93%
Date Range
1/1/1998 - 1/1/2025
Summary
The Accommodation and Food Services Wages and Salaries in Alabama tracks the average hourly earnings of workers in the state's hospitality and food service industries. This metric provides insight into employment conditions and labor costs in a key sector of the Alabama economy.
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 Wages and Salaries in Alabama series measures the average hourly earnings of employees in the state's hotels, restaurants, and other hospitality establishments. This data helps economists and policymakers understand trends in labor costs and compensation within a major Alabama industry.
Methodology
The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
Accommodation and food services wages are a leading indicator of consumer demand and business conditions in Alabama.
Key Facts
- Alabama's accommodation and food services sector employs over 200,000 workers.
- Wages in this industry grew by 4.2% in 2022 compared to the prior year.
- Wages in this sector are typically lower than the statewide average for all private industries.
FAQs
Q: What does this economic trend measure?
A: The Accommodation and Food Services Wages and Salaries in Alabama series tracks the average hourly earnings of workers in the state's hotels, restaurants, and other hospitality establishments.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into employment conditions and labor costs in a key sector of the Alabama economy, which is important for understanding consumer demand, business activity, and broader economic trends in the state.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Accommodation and food services wages are a leading indicator of consumer demand and business conditions in Alabama, which is relevant for policymakers and economists analyzing the state's economic performance.
Q: Are there update delays or limitations?
A: The Accommodation and Food Services Wages and Salaries in Alabama data is published monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Accommodation and Food Services Wages and Salaries in Alabama (ALWACC), retrieved from FRED.