Accommodation and Food Services Wages and Salaries in Montana
MTWACC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,021,036.00
Year-over-Year Change
20.63%
Date Range
1/1/1998 - 1/1/2025
Summary
The Accommodation and Food Services Wages and Salaries in Montana measure the average hourly wages and salaries earned by workers in the state's hospitality industry. This provides important insight into labor costs and market conditions in a key sector of the Montana 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 hourly earnings of employees in Montana's accommodation and food services industries, including hotels, restaurants, and bars. It is an important economic indicator that can help policymakers and businesses understand trends in labor costs and the competitiveness of the state's hospitality sector.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely watched by Montana policymakers and business leaders to inform decisions about economic development, taxation, and labor market regulations.
Key Facts
- Montana's accommodation and food services sector employs over 50,000 workers.
- Average hourly wages in this industry are about 20% lower than the statewide average.
- Wages have risen by 3.5% annually over the past 5 years in this sector.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wages and salaries earned by workers in Montana's accommodation and food services industries, including hotels, restaurants, and bars.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insight into labor costs and market conditions in a key sector of the Montana economy, helping policymakers and businesses understand trends in the hospitality industry.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is closely watched by Montana policymakers and business leaders to inform decisions about economic development, taxation, and labor market regulations.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Accommodation and Food Services Wages and Salaries in Montana (MTWACC), retrieved from FRED.