Accommodation and Food Services Earnings in Arizona
AZEACC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
14,194,299.00
Year-over-Year Change
22.94%
Date Range
1/1/1998 - 1/1/2025
Summary
The Accommodation and Food Services Earnings in Arizona metric measures average weekly earnings for workers in the accommodation and food services industry in the state of Arizona. This data provides insight into economic conditions and trends in the important tourism and 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
The Accommodation and Food Services Earnings in Arizona series tracks the average weekly earnings of employees in businesses such as hotels, restaurants, bars, and other food and lodging establishments located in the state. This metric is a key indicator of economic activity and consumer spending in Arizona's service industry.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Economists and policymakers monitor this data to assess the health of Arizona's tourism and hospitality markets.
Key Facts
- Arizona is a major tourism destination in the U.S.
- Food services and accommodation make up over 10% of Arizona's GDP.
- Weekly earnings in this sector have increased by 20% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: The Accommodation and Food Services Earnings in Arizona metric measures the average weekly earnings of workers employed in the accommodation and food services industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insight into economic conditions and consumer spending patterns in Arizona's important tourism and hospitality sector.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this data to assess the health of Arizona's tourism and hospitality markets, which are crucial drivers of the state's economy.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Accommodation and Food Services Earnings in Arizona (AZEACC), retrieved from FRED.