Accommodation and Food Services Earnings in Connecticut
CTEACC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,335,084.00
Year-over-Year Change
17.61%
Date Range
1/1/1998 - 1/1/2025
Summary
The Accommodation and Food Services Earnings in Connecticut trend measures average hourly earnings in the accommodation and food services industry in the state of Connecticut. This metric is an important indicator of economic activity and labor market conditions in the 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 Connecticut series tracks the average hourly earnings of workers in the accommodation and food services industry, which includes hotels, restaurants, bars, and other hospitality businesses. This data provides insights into compensation levels and wage pressures within a key service industry in the state.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Quarterly Census of Employment and Wages program.
Historical Context
Policymakers and economists monitor this trend to assess the health of Connecticut's service sector and make informed decisions about economic policy.
Key Facts
- Connecticut's accommodation and food services industry employs over 200,000 workers.
- Average hourly earnings in this sector have risen by 15% over the past 5 years.
- The industry accounts for nearly 10% of total employment in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of workers in the accommodation and food services industry in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into compensation levels and wage pressures within a key service industry in Connecticut, which is important for understanding the state's economic health and labor market conditions.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Quarterly Census of Employment and Wages program.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to assess the health of Connecticut's service sector and make informed decisions about economic policy.
Q: Are there update delays or limitations?
A: The data is released quarterly, so there may be a short delay in the most recent figures.
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Citation
U.S. Federal Reserve, Accommodation and Food Services Earnings in Connecticut (CTEACC), retrieved from FRED.