Accommodation and Food Services Earnings in Hawaii
HIEACC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,105,883.00
Year-over-Year Change
31.75%
Date Range
1/1/1998 - 1/1/2025
Summary
The Accommodation and Food Services Earnings in Hawaii trend measures average weekly earnings for workers in the hospitality industry in the state of Hawaii. This data provides important insights into economic conditions and labor market dynamics in a key sector of Hawaii's 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
This series tracks the average weekly earnings of workers employed in the accommodation and food services industry in Hawaii. It serves as a valuable indicator of economic activity and labor market trends in the state's critical tourism and hospitality sectors.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through surveys of employers in Hawaii.
Historical Context
Policymakers and economists monitor this trend to assess the health of Hawaii's service-oriented economy and make informed decisions.
Key Facts
- Hawaii's accommodation and food services industry employs over 120,000 workers.
- Average weekly earnings in this sector have increased by 20% over the past decade.
- The hospitality industry accounts for nearly 20% of Hawaii's total GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of workers employed in the accommodation and food services industry in the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the economic health and labor market dynamics of a critical sector of Hawaii's economy, which is heavily dependent on tourism and hospitality.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through surveys of employers in Hawaii.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to assess the performance of Hawaii's service-oriented economy and make informed decisions about economic policies and interventions.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, with a typical lag of around one month from the end of the reference period.
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Citation
U.S. Federal Reserve, Accommodation and Food Services Earnings in Hawaii (HIEACC), retrieved from FRED.