Accommodation and Food Services Earnings in Louisiana
LAEACC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,008,713.00
Year-over-Year Change
18.34%
Date Range
1/1/1998 - 1/1/2025
Summary
The Accommodation and Food Services Earnings in Louisiana trend measures average hourly earnings in the state's hospitality industry. This statistic is closely watched by economists and policymakers to gauge Louisiana's economic health and labor market conditions.
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 the average hourly earnings of employees in Louisiana's accommodation and food services sector, which includes hotels, restaurants, bars, and other hospitality businesses. It provides insights into wage levels and trends in a key industry for the state's economy.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Accommodation and food services earnings are an important indicator for Louisiana's tourism and service-driven economy.
Key Facts
- Louisiana's accommodation and food services sector employs over 250,000 workers.
- Earnings in this industry have risen by 15% over the past 5 years.
- The COVID-19 pandemic significantly impacted hospitality wages in Louisiana.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of employees in Louisiana's accommodation and food services sector, which includes hotels, restaurants, bars, and other hospitality businesses.
Q: Why is this trend relevant for users or analysts?
A: Accommodation and food services earnings are a key indicator of economic activity and labor market conditions in Louisiana's important tourism and service industry.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to assess the health of Louisiana's service-driven economy and make informed decisions about economic and workforce development initiatives.
Q: Are there update delays or limitations?
A: There is typically a 1-2 month delay in the release of this data, and the series may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Accommodation and Food Services Earnings in Louisiana (LAEACC), retrieved from FRED.