Accommodation and Food Services Earnings in Idaho
This dataset tracks accommodation and food services earnings in idaho over time.
Latest Value
2900272.00
Year-over-Year Change
16.02%
Date Range
1/1/1998 - 1/1/2025
Summary
The Accommodation and Food Services Earnings in Idaho trend measures average weekly wages for workers in the accommodation and food services sector within the state of Idaho. This statistic is a key indicator of economic activity and consumer demand in the state's hospitality industry.
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 Idaho series tracks the average weekly earnings of employees in Idaho's accommodation and food services sector, which includes hotels, restaurants, bars, and other hospitality-related businesses. This metric provides insight into broader economic conditions and consumer spending patterns within the state.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through surveys of private businesses.
Historical Context
Policymakers and analysts use this trend to gauge the strength of Idaho's tourism and service-based economy.
Key Facts
- Idaho's accommodation and food services sector employs over 100,000 workers.
- Average weekly earnings in this sector were $431 as of the latest data.
- Earnings have increased by 15% over the past 5 years in nominal terms.
FAQs
Q: What does this economic trend measure?
A: The Accommodation and Food Services Earnings in Idaho trend measures the average weekly wages of employees working in Idaho's hospitality and service industry, including hotels, restaurants, and other leisure/travel-related businesses.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the strength of Idaho's tourism and service-based economy, as the accommodation and food services sector is a major driver of economic activity and employment in the state.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through surveys of private businesses in Idaho.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this trend to gauge consumer demand, labor market conditions, and overall economic performance in Idaho's hospitality industry, which is a critical part of the state's economy.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a short lag, so it provides timely information on current economic conditions. However, the sample size may be limited for some smaller geographic areas within Idaho.
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Citation
U.S. Federal Reserve, Accommodation and Food Services Earnings in Idaho (IDEACC), retrieved from FRED.