Accommodation and Food Services Earnings in Massachusetts
MAEACC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15,374,851.00
Year-over-Year Change
20.86%
Date Range
1/1/1998 - 1/1/2025
Summary
The Accommodation and Food Services Earnings in Massachusetts trend measures average weekly earnings for workers in the state's hospitality industry. This metric provides insight into compensation and cost-of-living trends for a major 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
This series tracks average weekly earnings for employees in Massachusetts establishments engaged in providing accommodation and food services. It is a useful indicator of income levels, labor costs, and economic conditions in the state's hospitality and tourism industries.
Methodology
The data is collected through the Quarterly Census of Employment and Wages program by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists monitor this trend to understand consumer demand, labor market dynamics, and regional economic performance.
Key Facts
- Massachusetts is a top tourism destination in the U.S.
- Accommodation and food services make up over 10% of the state's workforce.
- Earnings in this sector have risen steadily in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures average weekly earnings for workers in Massachusetts establishments engaged in providing accommodation and food services.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into compensation levels, labor costs, and economic conditions in the state's important hospitality and tourism industries.
Q: How is this data collected or calculated?
A: The data is collected through the Quarterly Census of Employment and Wages program 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 understand consumer demand, labor market dynamics, and regional economic performance.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule of the Quarterly Census of Employment and Wages program.
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Citation
U.S. Federal Reserve, Accommodation and Food Services Earnings in Massachusetts (MAEACC), retrieved from FRED.