Accommodation and Food Services Wages and Salaries in Pennsylvania
This dataset tracks accommodation and food services wages and salaries in pennsylvania over time.
Latest Value
14175916.00
Year-over-Year Change
22.47%
Date Range
1/1/1998 - 1/1/2025
Summary
The Accommodation and Food Services Wages and Salaries in Pennsylvania series measures the average hourly wages and salaries paid to workers in the state's accommodation and food services sector. This data provides insights into the compensation trends in a key service 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
This economic indicator tracks the average hourly earnings of employees in Pennsylvania's accommodation and food services sector, which includes hotels, restaurants, bars, and other hospitality businesses. The data is used by economists and policymakers to monitor labor market conditions and compensation trends in this important service industry.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Quarterly Census of Employment and Wages program.
Historical Context
Wages and salaries in the accommodation and food services sector are relevant for understanding consumer spending, inflation, and the overall health of Pennsylvania's economy.
Key Facts
- Pennsylvania's accommodation and food services wages have increased by 18% over the past 5 years.
- This sector accounts for over 500,000 jobs in Pennsylvania, or about 8% of total state employment.
- Wages in this industry tend to be lower than the state average, but the sector is a major employer.
FAQs
Q: What does this economic trend measure?
A: The Accommodation and Food Services Wages and Salaries in Pennsylvania series measures the average hourly wages and salaries paid to workers in the state's accommodation and food services sector.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into labor market conditions and compensation trends in Pennsylvania's important hospitality industry, which is a key driver of consumer spending and the overall state economy.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Quarterly Census of Employment and Wages program.
Q: How is this trend used in economic policy?
A: Wages and salaries in the accommodation and food services sector are relevant for understanding consumer spending, inflation, and the overall health of Pennsylvania's economy, making this data important for economic policymakers and analysts.
Q: Are there update delays or limitations?
A: The Accommodation and Food Services Wages and Salaries in Pennsylvania data is published quarterly with a short delay, providing timely insight into labor market conditions in this sector.
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Citation
U.S. Federal Reserve, Accommodation and Food Services Wages and Salaries in Pennsylvania (PAWACC), retrieved from FRED.