Accommodation and Food Services Earnings in District of Columbia
DCEACC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,685,460.00
Year-over-Year Change
56.15%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Accommodation and Food Services Earnings in District of Columbia' measures the average weekly earnings of workers in the accommodation and food services sector in the Washington, D.C. metropolitan area. This economic indicator provides insights into the labor market and spending patterns in the region.
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 data series tracks changes in the average weekly earnings of employees in the accommodation and food services industry located in the District of Columbia. It is an important barometer of economic activity and consumer demand in the nation's capital.
Methodology
The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to gauge the health of the local hospitality and tourism sectors.
Key Facts
- Earnings averaged $692 per week in 2022.
- This sector employs over 80,000 people in the DC area.
- Earnings have risen 18% since 2017.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the average weekly earnings of workers in the accommodation and food services sector located in the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the labor market and consumer spending patterns in the nation's capital, which is important for understanding regional economic conditions.
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: Policymakers and analysts use this metric to gauge the health of the local hospitality and tourism sectors in Washington, D.C.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of several weeks.
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Citation
U.S. Federal Reserve, Accommodation and Food Services Earnings in District of Columbia (DCEACC), retrieved from FRED.