Accommodation and Food Services Wages and Salaries in Arizona
AZWACC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11,801,292.00
Year-over-Year Change
24.71%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Accommodation and Food Services Wages and Salaries in Arizona' trend measures average weekly wages and salaries for workers in Arizona's accommodation and food services industry. This metric provides insight into labor costs and economic conditions in a key 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
This series tracks the average weekly earnings of employees in Arizona's accommodation and food services industry, which includes hotels, restaurants, bars, and other hospitality businesses. It is an important indicator of wage levels and labor market dynamics in a major service-providing industry within the state.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this trend to assess economic conditions and labor market pressures in Arizona's hospitality sector.
Key Facts
- Arizona's accommodation and food services wages averaged $522 per week in 2022.
- Wages in this sector have risen 18% over the past 5 years.
- The industry employs over 280,000 workers in Arizona.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly wages and salaries for workers employed in Arizona's accommodation and food services industry, which includes hotels, restaurants, bars, and other hospitality businesses.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor costs and economic conditions in a key service sector, which is important for understanding the state's overall economic performance and labor market dynamics.
Q: How is this data collected or calculated?
A: The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess economic conditions and labor market pressures in Arizona's hospitality sector, which is a major employer and contributor to 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 between the reference period and publication.
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Citation
U.S. Federal Reserve, Accommodation and Food Services Wages and Salaries in Arizona (AZWACC), retrieved from FRED.